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
Montara oil spill 1 November. The West Triton jackup drilling rig arrived at the Montara Field in an attempt to plug the oil leak on 11 September 2009. Oil and gas producer, Woodside Petroleum Ltd offered to assist PTTEPAA in cleaning up the oil spill with the use of a rig closer to the spill site. However, PTTEPAA rejected the Woodside offer on the basis of "safety reasons". The Woodside rig was a semisubmersible drilling rig and, as it floats on the sea surface, was not deemed as a suitable platform for the relief well. A jackup rig was required because it could