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.