BP’s Macondo disaster payout hits $2.3billion

December 09, 2011 | Government & Regulations

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BP has said it has now made a total of $2.3 billion in payments to the Gulf Coast Claims Facility, the organization set up to handle compensation claims related to the Macondo disaster.

The payout level, as of 30 November, is up by around $73 million on the previous month.

The British supermajor previously said it estimated its total liability from the April 2010 oil spill at $7 billion.

BP and the Obama administration established the GCCF in August 2010. In August this year, the organization said it had paid out a total of more than $5 billion to more than 200,000 claimants. It is due to complete its work in 2013.

The blowout on the Deepwater Horizon rig in the Gulf of Mexico caused 11 deaths and led to the worst offshore oil spill in US history.