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Transocean penalties a step forward for unprecedented restoration effortsWASHINGTON,
Jan. 3, 2013 /PRNewswire-USNewswire/ -- Gulf restoration and economic development groups lauded the announcement today from the Department of Justice that it has reached an historic settlement with Transocean for its role in the 2010 Gulf oil spill. Today's
$1.4 billion settlement will be paid under the Clean Water Act for civil and criminal penalties. A significant portion of those funds will be used to restore the Gulf, as directed by the RESTORE Act.