27 January 2012 06:00 [Source: ICIS news]
The company issued the statement following a
An explosion at the Deepwater Horizon rig on 20 April 2010 killed 11 and caused the largest offshore spill ever recorded in
US District Judge Carl Barbier ruled that Transocean’s contract with BP shielded the Deepwater Horizon rig operator from the full responsibility of paying the claims, according to media reports.
This meant that BP will have to pay for some of Transocean’s liabilities on the oil spill accident.
Nonetheless, Transocean is not fully indemnified in its contract with BP.
“Under the decision Transocean is, at a minimum, financially responsible for any punitive damages, fines and penalties flowing from its own conduct,” BP said.
“As we have said from the beginning, Transocean cannot avoid its responsibility for this accident," the company added.
BP said it has paid more than $7.8bn (€5.93bn) in claims, advances and other payments to individuals, businesses and governments in the aftermath of the Deepwater Horizon incident.
($1 = €0.76)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|