San Francisco: Various big parties in the Deepwater Horizon oil rig disaster of five years ago came to an agreement on Wednesday over outstanding legal disputes with contractors related to the incident.
The disaster claimed the lives of 11 men and caused an 87-day oil spillage, the worst ever in US waters, as millions of tons of oil poured into the Gulf of Mexico.
BP, the owner of the Macondo well where the Deepwater Horizon rig exploded in 2010, settled with the rig’s owner Transocean and with Halliburton, a cement sub-contractor for the subsea well.
Transocean, a Swiss company, will pay $212m to businesses and local governments that brought claims, plus undisclosed attorney’s fees. BP has agreed to pay Transocean $125m to reimburse it for legal fees and has dropped all further claims.
BP and Halliburton also resolved their legal claims against each other but did not disclose any financial terms of the deal.
It’s not the end of legal wrangling over the disaster as lawsuits against BP for economic and environmental damages are still going through US federal courts.