Feb 19 A federal judge on Tuesday gave final
approval to Transocean's $1 billion civil settlement related to
BP Plc's massive Gulf of Mexico oil spill in 2010.
U.S. District Judge Carl Barbier signed the agreement,
according to the court document filed in federal court in New
Transocean, which employed nine of the 11 workers killed in
the accident, reached a $1.4 billion agreement to settle
criminal and civil charges with the U.S. government in January.
Last week, U.S. District Judge Jane Triche Milazzo accepted
Transocean's guilty plea for violating the U.S. Clean Water Act
along with a $400 million criminal fine for its role in the
disaster at BP's Macondo well.
Transocean must still seek a settlement with the plaintiffs
committee representing more than 100,000 individuals and
business owners claiming economic and medical damages, so the
ultimate cost of Macondo to Transocean could end up being
BP is slated to go to trial in federal court in New Orleans
on Monday on civil claims stemming from the spill.