Mitsui unit settles liability in Macondo well incident

MOEX Offshore LLC agreed to pay $90 million to settle its liability in the Macondo deepwater well incident and spill in 2010, the US Department of Justice, Coast Guard, and Environmental Protection Agency jointly announced on Feb. 17. Approximately half the settlement will go directly to the gulf as penalties or expedited environmental projects, they indicated.

Under the agreement, the MOEX USA Corp. subsidiary, which is a part of Mitsui Oil Exploration Co. Ltd., will pay $70 million in fines and spend another $20 million to facilitate land acquisition projects in several US Gulf Coast states, the federal entities said.

The company was a minority investor in the well at the time of the incident and spill, but no longer owns any share in it. The proposed settlement in US District Court for Louisiana’s Eastern District is subject to a 30-day comment period and final court approval.

It does not affect the government’s claims against other defendants in a lawsuit stemming from the incident. The trial in that case’s first phase is scheduled to begin Feb. 27 in federal district court in New Orleans, DOJ said.

Contact Nick Snow at nicks@pennwell.com.

Related Articles

NGSA asks Congress to pass bills facilitating LNG exports

03/27/2014 The Natural Gas Supply Association called on Congress to support legislation that would facilitate more LNG exports. “Exporting LNG overseas will h...

IHS: Western sanctions indirectly could hinder Russian oil, gas revenues

03/27/2014 Western sanctions imposed against Russian government officials and business executives regarding Russia’s conflict with Ukraine could slow the avai...

US, European energy leaders to discuss gas diversification measures

03/27/2014 Top US government energy officials and their counterparts from other G7 nations will meet early next week to discuss reducing Europe’s heavy relian...

EIA: Cushing inventories down 32% over the last 2 months

03/27/2014 According to the US Energy Information Administration, crude oil inventories at Cushing, Okla., the primary crude oil storage location in the US, d...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected