Cameron Announces Agreement with BP
Wednesday, January 11, 2012
Cameron announced an agreement with BP whereby BP will
indemnify Cameron for current and future compensatory claims against Cameron
associated with the Deepwater Horizon incident.
Under the terms of agreement, Cameron agrees to pay $250
million to BP, and both parties have agreed to mutually release claims against
each other. In addition, BP will fully
indemnify Cameron for damage claims arising under the Oil Pollution Act, claims
for natural resource damages and associated damage-assessment costs, and other
claims arising from third parties. More...