Company will pay $1.1bn for damage to property and commercial fishing

Halliburton, the oilfield services firm involved in the 2010 Deepwater Horizon oil leak, has agreed to entrust $1.1 billion (£670 million) to settle damages claims relating to the disaster.

The settlement covers claims assigned to Halliburton by BP, as well as claims of damage to property and issues relating to the commercial fishing industry. The agreement also affirms that Halliburton has no liability in claims that were settled by BP for $4 billion in 2012.

One of Halliburton’s main roles was to cement the well in place after drilling. This work was called into question during investigations, and Halliburton was found to be jointly culpable for the disaster, along with BP and Transocean, the rig operator.

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