Rig operator Transocean said last night it had struck an £870million deal with the US justice department to resolve outstanding civil and potential criminal claims against the company arising from the Deepwater Horizon catastrophe.
A Transocean subsidiary has also agreed to plead guilty to the negligent discharge of oil into the Gulf of Mexico after the disaster on April 20, 2010.
Deepwater Horizon blew up, killing 11 workers and creating a massive oil spill in the US gulf.
Transocean said its deal, involving payment over five years, would result in a conclusion to criminal investigations into the company in addition to the settling of claims for civil penalties.
The company has said previously that it hadreserved £1.24billion for paying claims related to the incident.
In September, Transocean said in a regulatory filing that it had discussed a £930million settlement with the justice department that had to clear several hurdles before it could be completed.
BP, which leased the rig from Transocean, has agreed to pay a record £2.8billion in penalties and plead guilty to manslaughter and other criminal charges related to the 2010disaster.
The BP deal does not resolve the US government’s civil claims against the UK-based energy company, however.
Last month, a federal judge in New Orleans gave final approval to a class-action deal between BP and claimants’ lawyers.
BP expects to pay about £4.8billion to resolve these claims but the settlement is not capped.
An oil rig that ran aground in Alaska in near-hurricane conditions on Hogmanay dragged two vessels trying to control it more than 10 miles towards a rocky shore before the crews cut it loose to save themselves.
The stricken Kulluk rig is owned by Royal Dutch Shell and is a vital part of the company’s controversial Arctic drilling programme.