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30 Oct 2011

Ed Crooks, Financial Times

Transocean eyes more action against BP [USA]

Transocean, the owner of the Deepwater Horizon drilling rig that sank in the Gulf of Mexico last year, is planning to take further legal action against BP as it seeks to prove that the British company should be liable for almost all the costs of the disaster. Legal arguments from Transocean, which could be filed in the next few days, will be based on the contract that it signed with BP to work on the Macondo well, which it says protects it against claims for damages, fines and other penalties...Transocean said in a statement: “Through legally binding contracts with both Transocean and the US government, BP agreed to assume full responsibility for the costs and liability of any pollution...caused by hydrocarbons that leaked from the Macondo well.” BP argues that no court would protect Transocean against fines and charges handed down by the US authorities, saying: “If Transocean has materially breached the contract containing the indemnity or prejudiced BP’s rights, then Transocean cannot take advantage of the indemnification clauses.” [also refers to Anadarko]