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04.01.2013 12:07
Deepwater Horizon Operator Fined USD 1.4bn
The USD 1bn in civil penalties and USD 400m in criminal ones is in line with what Transocean was expecting
AUTHOR: publics.bg


  • © Deepwater Horizon Response@flickr.com

Transocean, owner of the Deepwater Horizon rig at the centre of BP's Gulf of Mexico blowout, has reached a USD 1.4bn settlement with theU.S. Department of Justice to settle criminal and civil charges.
 
The Swiss-based rig operator has been in the dock since April 2010 saw the worst spill in American history. The USD 1bn in civil penalties and USD 400m in criminal ones is in line with what the company was expecting.
 
A formal statement had not been released on Thursday night but sources in the US confirmed the two sides had reached a deal far lower than the USD 4.5bn agreed by BP, which only covered criminal claims.
 
Despite the problems BP reported profits of more than USD 25bn for 2011 but Transocean recorded a loss of about USD 5.7bn, hit by contingencies for the Deepwater Horizon and other market problems, The Guardian wrote.

TAGS: Transocean | Deepawater Horizon | oil spill | BP | fine | settlement | environment | oil rig | Gulf of Mexico 


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