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Journalism of Courage
BP said on Friday that Moex Offshore,one of its partners in the oil well that leaked into the Gulf of Mexico last year,has agreed to pay 1.1 billion as part of a settlement for any claims related to the oil spill.
Moex,which had a 10 per cent stake in the well,is the first company aside from BP to make a payment towards covering the costs of the disastrous oil spill,BP said in a statement. The agreed payment is about half of a total 2.1 billion BP had sought from Moex in monthly invoices for reimbursement of costs,including interest,according to Mitsui of Japan,which owns Moex.
The settlement covers all claims related to the well accident and would immediately go to the 20 billion trust that was set up to compensate fishermen and other local residents and businesses that were affected by the oil spill,BP said.
Moex is the first company to join BP in helping to meet our shared responsibilities in the gulf, the BP chief executive,Robert W Dudley,said. This settlement is an important step forward for BP and the gulf communities.
BP set aside 40 billion to cover costs and liabilities linked to the oil spill,the worst ever in the United States.
