Cameron International settles with BP for $250mn
Houston-based subcontractor Cameron International agreed a $250mn settlement with BP regarding the 2010 Deepwater Horizon oil rig explosion and spill in the latest development in the ongoing saga.
Cameron was the producer of the blowout-preventer that was used on the rig.
Cameron, without admitting any guilt or liability in the disaster, will pay $250mn to BP indemnify Cameron for current and future compensatory claims.
Cameron said its (re)insurance programme is expected to fund not less than $170mn of the agreement,...
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