I would like to pick up on the points made by Nigel and LEM stating that they sit down and plan in advance to ignore the OEI procedure and simply fly the aircraft out to sea because they considder flying to a point over land to be a silly idea in the circumstances.
Could it be that the person who approved the procedure in the ops manual (Chief Pilot?) believes that when a twin has an engine failure and becomes a single engine aircraft, taking a public transport flight in a (now) single engine aircraft well out to sea would not be ideal if the aircraft could acheive obstacle clearance over land?
Just a thought.
Regards,
DFC
PS - What's the rush to ditch the procedure? Isn't the idea that in an emergency we don't rush things unnecessarily?