Bp Deepwater Horizon Settlement Agreement

They took advantage of this assessment to develop a scientifically comprehensive restoration plan for the Gulf of Mexico, funded by comparison with BP for up to $8.8 billion. In June 2016, BP announced that it had established its final estimate of the cost of the oil spill: 61.6 billion $US. These include a separate estimate of the company`s remaining economic loss rights and corporate claims that were decided under the private transaction agreement, as well as the $20.8 billion transaction with the federal government and five federal states. The approval decree is subject to public notices and final judicial authorization. The approval decree and the concordation agreement with the Gulf countries are interdependent and do not take effect unless (1) there is final judicial authorization for the approval decree and (2) local authorities carry out declassifications to the satisfaction of BP. . . .