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Transocean settles with DOJ over Deepwater Horizon claims

Transocean Ltd. today agreed to pay $1.4 billion to resolve civil and criminal claims over its role in the 2010 Deepwater Horizon disaster in the Gulf of Mexico. The company -- the owner of the Deepwater Horizon rig that exploded, leading to 11 deaths and a massive oil spill -- said it would plead guilty to violating the Clean Water Act and pay $1 billion in civil penalties and $400 million to resolve criminal claims, the Justice Department announced.

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