Switzerland-based Transocean has agreed to pay fines of $1.4 billion to settle US government charges over the Deepwater Horizon oil spill in the Gulf of Mexico in 2010, the company said on Thursday. Transocean owned the BP-contracted rig which exploded in April 2010, killing 11 of its workers. As part of the settlement, Transocean agreed to pay $1 billion in civil fines and a further $400 million in criminal penalties, and pleaded guilty to the violation of the Clean Water Act (CWA), for “negligent discharge of oil into the Gulf of Mexico”.
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