[Posted at 2:43 p.m. ET] We've just gotten a statement from BP with their reaction to the Transocean fine. BP agreed in November to plead guilty to criminal charges and pay penalties in relation to the incident.
"Today's settlement between Transocean and the United States underscores what every official investigation has found: that the Deepwater Horizon accident resulted from multiple causes, involving multiple parties.
In settling, Transocean has acknowledged that it played a significant role and has responsibility for the accident. Transocean is finally starting, more than two-and-a-half years after the accident, to do its part for the Gulf Coast.
Unfortunately, Halliburton continues to deny its significant role in the accident, including its failure to adequately cement and monitor the well."
[Posted at 1:00 p.m. ET] Offshore drilling firm Transocean will pay $1.4 billion in fines and penalties in connection with the 2010 oil spill in the Gulf of Mexico, the Justice Department announced Thursday.
Transocean owned and provided a crew for the Deepwater Horizon rig, where an explosion in 2010 killed 11 men and triggered the worst maritime oil spill in U.S. history. The well was capped three months later, but not before millions of barrels of oil spilled into the Gulf.
Transocean was contracted by BP, which leased the rig and directed staff onboard. BP agreed in November to plead guilty to criminal charges in connection with the incident and pay $4.5 billion in government penalties.FULL STORY