Transocean to Pay only $1.4 Billion for Gulf Oil Explosion and Spill

Noel Brinkerhoff
All Gov
January 6, 2013

Transocean Deepwater Inc., owner of the oil platform that blew up in the Gulf of Mexico on April 20, 2010, has agreed to plead guilty to charges stemming from the worst petroleum spill in U.S. history. Eleven workers were killed and sixteen injured.

The company has admitted to violating the Clean Water Act, and will pay a total of $1.4 billion in civil and criminal fines and penalties, according to the U.S. Department of Justice.

As part of the criminal settlement, Transocean will pay the National Academy of Sciences and the National Fish and Wildlife Foundation $150 million each. These monies will pay for oil spill prevention and response in the Gulf and natural resource restoration projects.

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This article was posted: Sunday, January 6, 2013 at 1:07 pm

Tags: environment, government corruption

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