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Moex Offshore Agrees to $90 Million Partial Settlement of Liability in Deepwater Horizon Oil Spill

Seeded on Fri Feb 17, 2012 2:36 PM EST
Read ArticleArticle Source: United States Department of Justice
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$70 Million Penalty Is Largest Under the Clean Water Act; Moex Also to Perform Gulf Conservation Projects Worth at Least $20 Million

WASHINGTON – MOEX Offshore 2007 LLC has agreed to settle its liability in the Deepwater Horizon oil spill in a settlement with the United States valued at $90 million, announced the Department of Justice, the U.S. Coast Guard and the U.S. Environmental Protection Agency (EPA) today.  Approximately $45 million of the $90 million settlement is going directly to the Gulf in the form of penalties or expedited environmental projects.

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This settlement does not affect the government’s claims against any other defendant in the Deepwater Horizon lawsuit that was filed on Dec. 15, 2010. The trial of the first phase of the case is set to begin in federal district court in New Orleans on Feb. 27, 2012.

MOEX Offshore is a wholly-owned subsidiary of the MOEX USA Corporation. Mitsui Oil Exploration Co. Ltd. is the corporate parent of MOEX USA, which in turn is owned by Mitsui & Co. Ltd. of Japan.

The proposed settlement, lodged in the U.S. District Court for the Eastern District of Louisiana, is subject to a 30-day comment period and final court approval. Information on submitting comment is available at www.justice.gov/enrd/Consent_Decrees.html.

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Reply#1 - Fri Feb 17, 2012 2:37 PM EST
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