MOEX Offshore agrees to pay $6.5 million for damage to Texas coastal resources economy and marine life
Texas Insider Report: AUSTIN Texas Texas Attorney General Greg Abbott issued the following statement on MOEX Offshore 2007 LLCs agreement to pay $6.5 million to Texas for damage to the Gulf of Mexico and coastal communities caused by the April 2010 Deepwater Horizon oil spill:
Texas coastal resources marine life and local economies were impacted by this devastating oil spill and today one of the Deepwater Horizons investors has come forward to take responsibility for one of the worst environmental disasters in American history. The Texas Attorney Generals Office is committed to protecting Texas coastal communities and ensuring the Gulf Coast revitalization efforts continue."
MOEX Offshore 2007 LLC had a 10 percent working interest in the Deepwater Horizon an offshore drilling vessel operated by BP that exploded sank and caused a massive oil spill in the Gulf of Mexico in 2010.
The State of Texas $6.5 million settlement is part of a larger $90 million settlement agreement with MOEX Gulf Coast states and the federal government.
The state-federal settlement was previously outlined in a consent decree that federal authorities filed last Friday. MOEXs agreement with the State of Texas includes the following key provisions:
- $3.25 million in civil penalties split between the General Revenue Fund and the Coastal Protection Fund which is administered by the Texas General Land Office.
- $3.25 million to fund beneficial Supplemental Environmental Projects along the coast approved by the Texas Commission on Environmental Quality and the Texas Parks and Wildlife Department
