It is one year on from the Deepwater Horizon disaster and an agreement between the Natural Resource Trustees and BP means $1 billion will be made available to help fund early restoration projects in the Gulf of Mexico.
The announcement was made yesterday in a joint press release which was issued by the states of Mississippi, Alabama, Florida, Louisiana and Texas, the Department of the Interior and the National Oceanic and Atmospheric Administration.
The funding means that work to restore the Gulf area can get underway early. Trustees will use the funding from BP for a number of projects which will help to restore and replenish some of the damage caused by the oil spill. It also means that work can get underway on projects without waiting for the completion of the Natural Resource Damage Assessment.
"Since the first day of the oil spill, one of MDEQ’s primary goals has been to make Mississippi whole for damages resulting from the oil spill. Today’s unprecedented agreement is an important first step, but it is only the first step. The harm to Mississippi’s natural resources from the oil spill is ongoing. As we continue assessing these damages, early restoration will provide an opportunity to mitigate the adverse impacts of the spill. However, it is essential that BP continue to work with the trustees in order to quickly implement these early restoration projects."
"This agreement is a great first step toward restoring our natural resources destroyed by the BP oil spill."
"We are eager to continue working with public, state and federal co-trustees and BP to quickly convert this downpayment into projects to restore our damaged coast and replace our lost wildlife. We encourage BP to continue to address the damages from this spill through early restoration efforts."
In a press release, BP describe the agreement as "ground breaking" and say that early restoration isn’t compulsory under the Oil Pollution Act.
Lamar McKay, chairman and president, BP America Inc, said:
On their website, BP state they have also started a $500-million study of the Gulf area. The decade long study aims to assess the long-term effects of the disaster. According to the Gulf of Mexico Oil Spill Public Report (PDF), BP have so far paid millions in claims to individuals, businesses and governments.
Eleven people died as a result of the explosion at the Deepwater Horizon drilling rig which occurred on April 20, 2010. The ensuing leak led to millions of gallons of oil spilling into the Gulf of Mexico.
On Wednesday, BP announced that it is to sue Transocean, the owner of the Deepwater Horizon oil rig for $40 billion. A separate lawsuit was filed against Cameron International, the supplier of the blowout preventer cap.