Committed to the Gulf
Gulf of Mexico payments: advertisement
BP has run an advertisement in major U.S. papers setting out its continued commitment to environmental and economic restoration efforts in the Gulf region despite the company’s legal challenge to the misinterpretation of the settlement agreement with the Plaintiffs’ Steering Committee. See the advertisement.
We continue to make significant progress cleaning the Gulf shoreline and supporting economic and environmental recovery in affected areas. We are supporting regional tourism and Gulf seafood, and investing in the local communities through educational programmes and enterprise development. Our goal is to provide a positive legacy in these coastal communities.
We have fully funded the $20-billion trust we established in 2010 to provide assurance that the resources to pay claims, settlements, natural resource damages and other costs would be available.
BP directly employs more than 2,300 people in the Gulf of Mexico and supports tens of thousands of additional jobs in the region. We expect to invest at least $4 billion a year in oil and gas development in the Gulf of Mexico over the next 10 years.
We took significant steps to further enhance safety and risk management in our Gulf of Mexico operations in 2012, and continued to implement recommendations from our internal investigation into the Deepwater Horizon accident.
Following the settlement with the US government of all criminal claims related to the Gulf of Mexico, BP has agreed to appoint a process safety monitor in the US for a term of four years. The monitor will review, evaluate, and provide recommendations for the improvement of BP’s process safety and risk management procedures concerning deepwater drilling in the Gulf of Mexico.
The information on this page forms part of the information reviewed and reported on by Ernst & Young as part of BP's 2012 sustainability reporting. View the full assurance statement.