Transocean, Alabama reach settlement from Macondo oil spill

Offshore staff

MONTGOMERY, Alabama – Governor Robert Bentley announced that Alabama has agreed to a $20-million settlement with Transocean Offshore Deepwater Drilling Inc., which owned the Deepwater Horizon.

“The state of Alabama suffered tremendous environmental and economic losses because of the BP/Deepwater Horizon oil spill in April 2010,” said Bentley. “I appreciate the entire Alabama team for working to ensure Alabama is fairly compensated. This agreement with Transocean is another positive step forward as we continue to recover from the effects of such a significant environmental and economic disaster.”

Earlier this year, an agreement in principle was reached with BP that resulted in an agreement to pay the state of Alabama $2.3 billion, with $1.3 billion going directly to the Gulf Coast region and $1 billion to be paid to the state.

The Transocean settlement will go into the State General Fund.

10/23/2015

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