Contractor agrees $75mn Deepwater settlement with BP
Swiss-based oilfield services company Weatherford international has agreed an insurance-funded $75mn settlement with BP over claims relating to the Deepwater Horizon disaster.
Weatherford, which made the float collar used on the Macondo well, said its $75m payment to BP is fully funded by its insurers and see the two firms drop any potential claims against each other.
Under the deal BP will indemnify Weatherford for current and future compensatory claims resulting from the incident and the impacts from that event...
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