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
Guimaras oil spill she declared a "national calamity". On August 17, British oil experts, sent by SMDC's foreign insurer, arrived in Guimaras to assess the situation. SMDC stated that the experts will check the extent of the oil pollution. The Britons conducted an aerial survey over Guimaras Island and made recommendations based on their findings. A four-man team from the U.S. Coast Guard arrived on August 23 to assist in determining the exact location of the tanker. Guimaras oil spill The Guimaras oil spill occurred in the Panay Gulf on August 11, 2006 when the oil tanker M/T "Solar 1" sank off the