Following the Deepwater Horizon accident, BP worked with the people of the Gulf to minimize the effects of the spill and deliver on its commitments to help restore the Gulf’s environment. BP spent $14 billion on response and cleanup activities, voluntarily committed up to $1 billion for early restoration of natural resources ($762 million of which had been paid for projects by the end of 2015), and spent $1.3 billion on the Natural Resource Damage Assessment (NRDA) process. Immediately after the accident, BP also committed $500 million over 10 years to support independent research through the Gulf of Mexico Research Initiative (GoMRI).
In addition, the settlement approved in April 2016 includes $7.1 billion payable by BPXP to the United States and the five Gulf states over 15 years for natural resource damages. BPXP has also set aside an additional amount of $232 million to be added to the NRD interest payment at the end of the payment period to cover any further natural resource damages that are unknown at the time of the agreement.