Compensating the people and communities affected
BP was determined to respond swiftly and fairly to legitimate claims from individuals, businesses and government entities
We sought to implement a fair and simple claims process aimed at supplying funds as quickly as possible and to provide assurance of available funds.
Deepwater Horizon Oil Spill Trust - $20 billion fund
BP, in agreement with the US government, set up the $20 billion trust to provide confidence that funds would be available to satisfy claims, final judgments in litigation and litigation settlements, state and local response costs and claims, and natural resource damages and related costs.
BP contributed $4.9 billion to the trust in 2012 and the trust is now fully funded with a total of $20 billion.
Compensating individuals and local businesses
Since May 2010, BP has paid a total of approximately $8.2 billion to individuals and businesses through various claims processes, with $1.9 billion being paid in 2012.
Compensating governmental and other agencies
BP is directly managing claims and funding requests for losses or expenses incurred by states, parishes, counties, federally recognized Indian tribes and other government entities.
Government entities have received almost $1.4 billion in payments for claims, advances, and settlements.
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.