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Transocean agrees to pay $1.4 billion fine for Gulf oil spill

Transocean was a contractor to BP and owned the Deepwater Horizon drilling rig that was at the center of the Gulf oil spill. BP has already agreed to $4.5 billion in fines.

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Crews conduct controlled burns of the Gulf oil spill on May 19, 2010. Transocean Thursday to pay $1.4 billion to settle US government charges arising from the spill.

Chief Petty Officer John Kepsimelis/U.S. Coast Guard/REUTERS/File

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An offshore drilling company agreed to plead guilty on Thursday to a single Clean Water Act charge and pay $1.4 billion in fines for its role in the April 2010 BP Deepwater Horizon oil spill in the Gulf of Mexico.

The company, Transocean Deepwater Inc. signed a plea and cooperation agreement with the Justice Department that includes payment of both civil and criminal penalties.

The company admitted that members of its crew aboard its Deepwater Horizon rig were negligent in failing to investigate indications that the offshore well was not secure, according a government statement. It noted that Transocean crew members were acting at the direction of BP officials in charge of the drilling operation.

 
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