Gallery: Transocean Pleads Guilty to Gulf Oil Spill and Agrees to Pay $...


The US Department of Justice announced today that Swiss company Transocean Ltd, the owner of the Deepwater Horizon rig that exploded and sank in 2010, has agreed to pay $1.4 billion for the oil spill that spewed millions of gallons of crude oil into the Gulf of Mexico. Under the settlement, the company will plead guilty to violating the Clean Water Act, and it will agree to pay $1 billion in civil penalties and $400 million in criminal fines. The announcement comes just six weeks after BP agreed to pay $4.5 billion in damages for the massive oil spill.

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