Transocean to pay $1.4 billion for role in 2010 Gulf oil spill

By MCT News Service

Created: Friday, January 4, 2013 1:15 a.m. CDT

WASHINGTON – The offshore oil and gas drilling company Transocean has agreed to a $1.4 billion settlement with the Justice Department to resolve civil and criminal claims against the company for its role in the April 2010 Gulf of Mexico oil spill.

Transocean owned the Deepwater Horizon drilling rig leased by BP that exploded and sank after the Macondo well blew out, killing 11 workers and spewing nearly 5 million barrels of oil into the sea.

In a statement, Transocean said that as part of the settlement, a “subsidiary has agreed to plead guilty to one misdemeanor violation of the Clean Water Act (CWA) for negligent discharge of oil into the Gulf of Mexico and pay $1.4 billion in fines, recoveries and penalties, excluding interest.”

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Transocean to pay $1.4 billion for role in 2010 Gulf oil spill

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