The Deepwater Horizon oil rig burns in the Gulf of Mexico in 2010.(Photo: Gerald Herbert, AP)
NEW ORLEANS -- Transocean Ltd. is scheduled to make an initial
court appearance in New Orleans Wednesday for its plea agreement with
the Justice Department over the company's role in the massive 2010 oil
spill in the Gulf of Mexico.
MORE: Transocean's $1.4B oil spill deal will help Gulf
Transocean has agreed to pay $400
million in criminal penalties and plead guilty to a misdemeanor charge
of violating the Clean Water Act. The Switzerland-based company also
agreed to pay $1 billion in civil penalties.
The company isn't
expected to enter its guilty plea until next month. U.S. District Judge
Jane Triche Milazzo has scheduled a Feb. 14 hearing to decide whether to
accept the criminal settlement.
Transocean owned the Deepwater
Horizon drilling rig, which sank after an explosion killed 11 workers
and spawned the spill. London-based oil giant BP PLC leased the rig from