MOEX Offshore Agrees to $90 Million Partial Settlement of Liability in Deepwater Horizon Oil Spill
WASHINGTON – MOEX Offshore 2007 LLC has agreed to settle its liability in the Deepwater Horizon oil spill in a settlement with the United States valued at million, announced the Department of Justice, the U.S. Coast Guard and the U.S. Environmental Protection Agency (EPA) today. Approximately million of the million settlement is going directly to the Gulf in the form of penalties or expedited environmental projects.
According to the terms of the settlement, MOEX will pay million in civil penalties to resolve alleged violations of the Clean Water Act resulting from the spill and agreed to spend million to facilitate land acquisition projects in several Gulf states that will preserve and protect in perpetuity habitat and resources important to water quality and other environmental features of the Gulf of Mexico region. At the time of the spill, MOEX was a minority investor in the lease for the Macondo well. It no longer owns any share of the lease.
The terms of today’s settlement do not affect the potential liability of – or recoveries from – other parties involved in the Deepwater Horizon oil spill.
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