According to the Associated Press, BP and Cameron International have made an agreement under a legal settlement in which $250 million will be paid to the oil giant. Cameron was the manufacturer of the blowout preventer that failed to stop BP's Deepwater Horizon oil spill in the Gulf of Mexico in April 2010.
BP has stated the agreement is not an admission of liability and both parties will still be involved in the federal trial coming this February. BP has already settled claims with three other companies and is continuing to pursue spill-related liability claims against Transocean Ltd. and Halliburton Corp. Here are some facts about the other companies involved in the liability and settlements related to the oil spill:
Halliburton Corp.
Although it was BP's well, Halliburton had provided oil-services to the oil company, specifically cementing for Deepwater Horizon reported the Huffington Post. Cementing involves plugging holes in the pipeline seal by filling them with cement. According to Forbes, earlier this month, BP accused Halliburton of destroying evidence that showed the cement used was not stable enough to seal the well. Despite this claim and the Presidential committee's findings that conclude the cement played a role in the well blowout, Halliburton asserts that BP is merely trying to shift the blame away from its own mistakes.
Transocean Ltd.
Reuters reported that the oil rig was owned and operated by Transocean, the company that had leased to BP. But an initial report from the Coast Guard released in April showed serious lapses in safety, including poor maintenance of electrical equipment and a lack of training for emergencies, in the years leading up to the explosion and oil spill. BP filed a lawsuit against Transocean earlier this year, seeking at least $40 billion in damages, noted the Wall Street Journal. In response, Transocean filed a cross-claim against BP and several other parties involved.
Anadarko Petroleum Corp.
Anadarko had not been involved in the operation of the well, but due to owning a 25 percent stake, BP pursued a settlement against the company, according to the Telegraph. Anadarko initially refused to pay for the $42 billion in costs and filed a lawsuit claiming BP was responsible for the entire amount. In October, Anadarko, based in the U.S., dropped the claim and agreed to pay BP $4 billion.
Weatherford International
The Houston Chronicle noted that Weatherford, a manufacturer of oil field equipment, reached a $75 million settlement with the British oil giant. Weatherford had made the poorly-functioning float collar, a device meant to prevent a backup flow of cement, used in the final cementing of the well. Before reaching the settlement, the manufacturer filed its own lawsuits against BP, but dropped them after the $75 million agreement.
Rachel Bogart provides an in-depth look at current environmental issues and local Chicago news stories. As a college student from the Chicago suburbs pursuing two science degrees, she applies her knowledge and passion to both topics to garner further public awareness.
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