BP reaches $9.7 billion partial settlement in US oil spill trial

In this Apr 21, 2010 photo provided by the US Coast Guard, fire boat response crews spray water on the burning remnants of BP's Deepwater Horizon offshore oil rig. BP said on Friday it reached a US$7.8 billion (S$9.7 billion) deal to settle claims from fishermen and other private claimants affected by the Gulf of Mexico oil spill ahead of the start of a blockbuster United States (US) trial. -- PHOTO: AP

CHICAGO (AFP) - BP said on Friday it reached a US$7.8 billion (S$9.7 billion) deal to settle claims from fishermen and other private claimants affected by the Gulf of Mexico oil spill ahead of the start of a blockbuster United States (US) trial.

The settlement does not affect what is anticipated to be tens of billions in fines and claims from the US government and the coastal states and local governments impacted by the spill.

'From the beginning, BP stepped up to meet our obligations to the communities in the Gulf Coast region, and we've worked hard to deliver on that commitment for nearly two years,' Mr Bob Dudley, BP's chief executive officer said in a statement.

'The proposed settlement represents significant progress toward resolving issues from the Deepwater Horizon accident and contributing further to economic and environmental restoration efforts along the Gulf Coast.'