Halliburton has reached a $1.1 billion settlement over its role in the 2010 spill in the Gulf of Mexico, the worst in U.S. history.
The U.S. District Court for the Eastern District of Louisiana must still approve the settlement, Halliburton said. The amount will be paid in three installments over the next two years and will be kept in a trust until all appeals are resolved, the company said.
In April 2010 a blowout and explosion and occurred at BP’s Macondo well, killing 11 workers and spilling millions of barrels of oil for months after the disaster. The full economic and environmental impact of the spill remains unknown.