Oil Rig Owner to Pay $1.4B Over Gulf Spill
Transocean settles with US over Deepwater Horizon disaster
By Newser Editors and Wire Services
Posted Jan 3, 2013 4:40 PM CST
In this April 21, 2010, aerial photo, the Deepwater Horizon oil rig burns in the Gulf of Mexico.   (Gerald Herbert)

(Newser) – The Justice Department reached a $1.4 billion settlement today with Transocean Ltd., the owner of the drilling rig that sank after an explosion killed 11 workers and spawned the massive 2010 oil spill in the Gulf of Mexico. The proposed settlement resolves the department's civil and criminal probes of Transocean's role in the Deepwater Horizon rig disaster. It requires the Switzerland-based company to pay $1 billion in civil penalties and $400 million in criminal penalties and plead guilty to a misdemeanor charge of violating the Clean Water Act, according to a court filing.

The deal, which is subject to a federal judge's approval, also calls for Transocean to implement a series of operational safety and emergency response improvements on its rigs. Much of the $1.4 billion will fund environmental restoration projects and spill-prevention research and training. BP, which leased the rig from Transocean, already has agreed to pay a record $4.5 billion in penalties and plead guilty to manslaughter and other criminal charges related to the spill. The deal with BP doesn't resolve the federal government's civil claims against the London-based oil company.

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Jan 3, 2013 9:49 PM CST
LOL. $1.4 billion is less than a week's earnings for these criminals and a misdemeanor charge !!! LOL. alleged plea bargained and sentenced drug dealers to pay $10 million in fines and the alleged drugs or marijuana never actually hit the streets and several Felony charges. Say, how many millions and millions of gallons of Oil actually Spilled in the Gulf ??? What ever r r !!!
Jan 3, 2013 6:38 PM CST
A $250k safety valve would have prevented it. A valve that Dick Cheney eliminated the mandatory use of in a bill he sponsored, pushed through & got W to signed.
Jan 3, 2013 6:03 PM CST
Lol. Yay, they have to pay one small fraction of their yearly income in order to pay for damage that can never be undone. You can just see any corporation or bank holding hands with the Justice Department and any other government official. Go Murrica, go!