Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

BP to Fund Construction of 6 Sections of La. Barrier Islands

change text size

Deepwater Horizon Gulf of Mexico Oil Spill

BP announced that it supports the U.S. government's decision to proceed with the construction of six sections of the Louisiana barrier islands proposal. The company will fund the estimated $360 million it will cost to construct the six sections.

BP will not manage or contract directly for the construction of the island sections, nor will the company assume any liability for unintended consequences of the project. The company plans to make payments in stages based on the project's milestones.

"BP is committed to implementing the most effective measures to protect the coastline of Louisiana and reduce the impact of the oil and gas spill in the Gulf of Mexico. The federal government and the state of Louisiana have agreed that the barrier islands construction is an effective response to the spill, and we look forward to working with them on this project," said Tony Hayward, BP's chief executive officer.

BP already has provided $170 million to Louisiana, Alabama, Mississippi, and Florida to help with their response costs and help promote their tourism industries. The company also has paid approximately $42 million in compensation to people and companies affected by the spill.

More info on the Deepwater Horizon Gulf of Mexico Oil Spill

Related Companies

Deepwater Horizon Images
Overview Diagram of Repair Efforts  Discoverer Enterprise U.S. Air Force: C-130s, spill response Deepwater Horizon Sinking (Apr 22)
Deepwater Horizon in Flames (Apr 20) Satellite view of Horizon Fire (Apr 21) Macondo Oil Slick (Apr 25) U.S. Air Force Tech. Sgt. Jim Graves
71 more images view image library

From the Career Center
Jobs that may interest you
Machine Operator
Expertise: Instrumentation Technologist
Location: Katy, TX
 
Electronic Technician
Expertise: Electronics Tech
Location: Houston, TX
 
CNC Machinist
Expertise: Machinist, Mechanic
Location: Conroe, TX
 
search for more jobs