As part of the settlement, Transocean will pay $1 billion in CWA penalties, in addition to $150 million to the National Academy of Sciences over a five-year period, $150 million to the National Fish and Wildlife Foundation over a three-year period and $100 in a federal court fine.

While the DoJ's settlement doesn't cover any potential claims brought by the National Resources Damage Assessment process, it also absolves Transocean from any prospective violation of Oil Pollution Act liability for environmental damage from the oil spill.

-- Written by Antoine Gara in New York

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