Mitsui Agrees to $90M Settlement in Deepwater Spill Case

Deepwater Horizon Gulf of Mexico Oil Spill

WASHINGTON - Mitsui & Co. unit MOEX Offshore 2007 LLC has agreed to pay $90 million to settle its Clean Water Act liability from the Deepwater Horizon oil spill in the Gulf of Mexico, the Justice Department and Environmental Protection Agency announced Friday.

The Justice Department said MOEX will pay $70 million in civil penalties and has agreed to spend $20 million to facilitate land acquisition projects that protect natural resources in the Gulf of Mexico region.

MOEX was a minority investor in the oil well at the center of the 2010 spill disaster.

Friday's settlement does not affect the potential liability of -- or recoveries from -- other parties involved in the Deepwater Horizon oil spill, the Justice Department said.

The department has sued several companies connected to the spill, including a unit of BP PLC.

Copyright (c) 2012 Dow Jones & Company, Inc.


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