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TRANSOCEAN, the oil contractor that owned the Deepwater Horizon rig which blew up in the Gulf of Mexico in 2010, has reached a $1.4bn (€1.1bn) settlement with the United States Department of Justice.
The deal will see Transocean pay $400m in criminal penalties, and $1bn in civil charges.
BP, the owner of the well, has already agreed to a $4.5bn settlement over the disaster, which killed 11 men.
The April 2010 explosion at BP's Macondo well resulted in the largest offshore oil spill in US history.
Irish Independent
