Minority Partner to Pay $90 Million Over Oil Spill

A minority partner in BP's blown-out well in the Gulf of Mexico has agreed to pay $90 million in a settlement with the federal government and Gulf states to resolve allegations the company violated the Clean Water Act.

MOEX Offshore 2007 LLC owned 10 percent interest in the Macondo well, about 50 miles off the Louisiana coast. The well blew out in April 2010, destroying the BP-leased rig Deepwater Horizon, killing 11 men and resulting in the nation's worst offshore oil spill.

The agreement, filed Friday in U.S. District Court in New Orleans, calls for MOEX to pay $45 million in civil penalties to the federal government and $25 million to the Gulf states affected by the spill. The company also agreed to pay $20 million for coastal protection projects.