Transocean settlements approved

A US judge has approved Transocean’s US$ 1 billion settlement for civil charges relating to 2010’s Macondo oil spill. The agreement was signed by Judge Carl Barbier in a New Orleans Federal Court.

Last week, the company pleaded guilty to the misdemeanour charge of violating the US Clean Water Act and reached a settlement of US$ 400 million. The agreement was approved on February 14^th by Judge Jane Triche Milazzo.

These two agreements bring Transocean’s total penalty to US$ 1.4 billion so far. However, the company still has to reach a settlement with the plaintiffs committee, which represents over 100 000 people claiming damages.

Transocean was the employer of nine of the workers killed during the disaster.

Edited from various sources by David Bizley

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/20022013/transocean_settlements_approved/