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BP to Pursue Insurance Claim Against Transocean

Source: MarketWatch

Posted on 28 Jun 2010

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U.K. oil major has given notice it intends to claim GBP470 million against rig owner Transocean Ltd.'d insurance policy for its part in the Deepwater Horizon rig disaster, the Mail on Sunday newspaper reports, without citing sources.

However, the newspaper says insurers for Transocean have filed a lawsuit asking for a declaration that they have no obligation to cover BP, which owns the underwater lease against damage and clean-up costs.

BP and Transocean weren't immediately available to comment.