Transocean Agreement Names NFWF to Receive Funds in Deepwater Horizon Settlement

    Transocean Agreement Names NFWF to Receive Funds in Deepwater Horizon
                                  Settlement

PR Newswire

WASHINGTON, Jan. 3, 2013

WASHINGTON, Jan. 3, 2013 /PRNewswire-USNewswire/ -- Through an agreement
announced today by the Department of Justice and Transocean Deepwater Inc.,
the National Fish and Wildlife Foundation (NFWF) would receive $150 million
over a two-year period to fund projects benefitting natural resources in and
around the Gulf of Mexico.

The funds are part of a settlement reached by the U.S. Department of Justice
to resolve certain outstanding criminal charges against Transocean arising
from the 2010 Deepwater Horizon explosion and oil spill in the Gulf of Mexico.

"NFWF will work diligently to ensure these funds are spent effectively and
transparently, in strict accordance with the terms of the settlement," said
Jeff Trandahl, executive director and CEO of NFWF. "We look forward to
administering the funds with an eye toward identifying and selecting projects
that best restore the Gulf ecosystem."

The proposed Transocean resolution follows a November 15 proposed settlement
agreement between the Department of Justice and BP resolving federal criminal
charges stemming from the Deepwater Horizon incident. If approved by a federal
judge, that agreement would direct $2.4 billion from BP over five years to
NFWF.

As in the proposed BP agreement, funds from the proposed Transocean settlement
will be used for natural resource restoration projects in the five Gulf
States, including restoration of barrier islands off the coast of Louisiana
and river diversion projects on the Mississippi and Atchafalaya Rivers. The
proposed Transocean settlement is also subject to approval by a federal judge.

See Department of Justice statement here:

http://www.justice.gov/opa/pr/2013/January/13-ag-004.html



SOURCE National Fish and Wildlife Foundation

Contact: Molly Moore, molly@sandersonstrategies.com, +1-240-393-0686, or Carol
Denny, carol.denny@nfwf.org, +1-202-857-0166
 
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