Transocean to pay $1.4bn in fines for BP’s Macondo well oil spill

US Department of Justice concludes investigation of Transocean.

New Statesman
William Reilly (L) and former Sen. Bob Graham (R), co-chairmen of the National Commission on the BP Deepwater Horizon oil spill and offshore drilling. Credit: Getty Images.

The Swiss offshore drilling contractor Transocean has signed settlement deal with the US Department of Justice to pay fines, penalties and recoveries worth $1.4bn till 2017 for BP’s Macondo well oil spill.

Eleven workers were killed in the Deepwater Horizon disaster that occurred in April 2010.

Eric Holder, US Attorney General, told the BBC: “This resolution of criminal allegations and civil claims against Transocean brings us one significant step closer to justice for the human, environmental and economic devastation wrought by the Deepwater Horizon disaster.”

In its July 2012 report, the US Chemical Safety Board has criticised both BP and Transocean for not maintaining safety measures.

Earlier in November 2012, BP has signed a $4.5bn settlement deal with the US government, including a $1.26bn criminal fine.