Transocean to pay $1 billion in penalties for 2010 oil spill
POSTED: Tuesday, February 19, 2013 - 11:46am
UPDATED: Tuesday, February 19, 2013 - 11:51am
CNN — A federal judge has approved Transocean's agreement with the Justice Department to pay $1 billion in civil penalties for its role in the massive 2010 oil spill in the Gulf of Mexico.
Eleven workers were killed when the Transocean oil rig exploded. The blast and ensuing fire damaged the rig, causing 4.9 million barrels of oil to spill into the Gulf, according to a 2011 report by the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling.