BP said on Friday that it was changing its deepwater drilling standards in the Gulf of Mexico as it seeks to repair its reputation and resume offshore operations after the disastrous oil spill last year.
BP said Friday that Moex Offshore, one of its partners in the oil well that leaked into the Gulf of Mexico last year, had agreed to pay $1.1 billion as part of a settlement for any claims related to the oil spill.
Moex, which had a 10 percent stake in the well, is the first company aside from BP to make a payment to cover the costs of the disastrous oil spill, BP said in a statement.
