Deepwater Horizon Oil Spill Trust Deepwater Horizon Oil Spill Trust The "Deepwater Horizon" Oil Spill Trust is the $20 billion trust fund established by BP to settle claims arising from the "Deepwater Horizon" oil spill. The fund was established to be used for natural resource damages, state and local response costs and individual compensation. It was established as Gulf Coast Claims Facility (GCCF), announced on 16 June 2010 after meeting of BP executives with U.S. President Barack Obama. In June 2012, the settlement of claims through the GCCF was replaced by the court supervised settlement program. After the "Deepwater Horizon" oil spill started, BP promised
Deepwater Horizon oil spill figure, saying that the government overestimated the volume. Internal emails released in 2013 showed that one BP employee had estimates that matched those of the FRTG, and shared the data with supervisors, but BP continued with their lower number. The company argued that government figures do not reflect over of oil that was collected or burned before it could enter the Gulf waters. According to the satellite images, the spill directly affected of ocean, which is comparable to the size of Oklahoma. By early June 2010, oil had washed up on of Louisiana's coast and along the Mississippi, Florida, and