Transocean to pay $1.4 bln for role in BP spill - source

WASHINGTON Thu Jan 3, 2013 11:50am EST

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WASHINGTON Jan 3 (Reuters) - Transocean Ltd has agreed to pay $1.4 billion to settle U.S. government charges arising from the massive 2010 BP Plc oil spill in the Gulf of Mexico, a source familiar with the matter said on Thursday.

The settlement includes $1 billion in civil penalties and $400 million in criminal penalties, under terms scheduled to be announced later on Thursday, the source said.

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