Transocean and the state of Alabama have agreed to a US$2 million settlement stemming from 2010’s Deepwater Horizon disaster.
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The Deepwater Horizon. Image from EPA. |
Governor Robert Bentley announced the settlement this week.
“The State of Alabama suffered tremendous environmental and economic losses because of the BP/Deepwater Horizon oil spill in April 2010,” Governor Robert Bentley said. “I appreciate the entire Alabama team for working to ensure Alabama is fairly compensated. This agreement with Transocean is another positive step forward as we continue to recover from the effects of such a significant environmental and economic disaster.”
On 20 April 2010, the Deepwater Horizon floating drilling rig owned by Transocean and used by BP, experienced a well destabilization that ultimately led to an explosion causing catastrophic fires, a leak of over 3 MMbbl into the Gulf of Mexico, and the death of 11 people.
As a result, Alabama’s Gulf Coast and the surrounding area experienced significant environmental and economic damages, as did the state of Alabama.
Earlier this year, an agreement in principle was reached with BP that resulted in an agreement to pay the State of Alabama $2.3 billion, with $1.3 billion going directly to the Gulf Coast region and $1 billion to be paid to the state.
The Transocean settlement will go into the State General Fund.
Read more:
US reaches US$20.8 billion Deepwater Horizon settlement
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