


The $1.4 billion settlement between Transocean and the United States Justice Department could mean hundreds of millions of dollars for the Gulf Coast. Congress ruled that 80 percent of the penalty money would be dedicated to environmental and economic recovery projects in the states impacted by the spill.

As part of the settlement, Transocean agreed to improve operational safety and the emergency response program on its drilling rigs.

The company isn't expected to enter its guilty plea until February. U.S. District Judge Jane Triche Milazzo has scheduled a Feb. 14 hearing to decide whether to accept the criminal settlement.


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