A pool of black oil shimmers on the tanker’s rusty red deck. It’s not fresh oil, but rather, a sheet of fossilized sludge that hints at the vessel's deteriorating condition and dire need of maintenance. The FSO Safer is a 1,200-foot-long oil carrier moored in the Red Sea that holds an estimated 1.1 million barrels of crude oil. Owned by Yemen's national oil company, the Safer Exploration & Production Operation Company (SEPOC), the vessel is a “floating bomb” according to experts who have been monitoring it. “It’s not a question of will it spill oil, but when,” says Dr. David Soud, head of research and analysis for international consulting firm I.R.