Transocean Settles for $1.4 Billion in Gulf Oil Spill"

"Transocean, the owner of the Deepwater Horizon rig that was drilling the BP Macondo well when it caught fire and sank off the Louisiana coast in 2010, beginning the nation's largest oil spill, has agreed to plead guilty to a single criminal misdemeanor violation of the Clean Water Act and pay $1.4 billion in civil and criminal fines to settle violations of the Clean Water Act and federal offshore drilling safety regulations, the company and the U.S. Justice Department announced today."

"The settlement, which will be subject to a 21-day public comment period and must still be approved by U.S. District Judge Carl Barbier, involves only issues that would have arisen during the first phase of a trial in New Orleans over the spill that is to begin on Feb. 25.

'Defendant Transocean, along with BP, had a duty to maintain well control,' said the  bill of information filed in federal court outlining the criminal charge. 'Entailed in this duty were responsibilities relating to conducting safe drilling and rig operations, ensuring the safety of personnel onboard and preventing accidents which could impact the environment.'"

Mark Schleifstein reports for the New Orleans Times-Picayune January 3, 2013.

SEE ALSO:

"Rig Owner Will Settle With U.S. in Gulf Spill" (New York Times)

"Transocean Settles With DOJ Over Deepwater Horizon Claims" (Greenwire)
 

Source: New Orleans Times-Picayune, 01/04/2013