Halliburton has agreed to pay $1.1 billion to settle much of its part in 2010s Gulf of Mexico oil rig disaster. The incident killed 11 people, and resulted in the largest oil spill in this history of the US after offshore drilling rig Deepwater Horizon exploded. Halliburton was responsible for cement mixture used to seal the oil well, which ended up being faulty. The agreement, which requires approval from a federal judge, covers claims against Halliburton as part of BPs 2012 class action settlement, as well as punitive damages claims on property and in the commercial fishing industry. The agreement also removes Halliburtons liability for compensating members of the 2012 BP settlement.
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