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Sunken Oil Rig Owner Could Be Liable For Millions, Lawyer Says

The firm owning the drilling rig that sank in the Gulf of Mexico could be liable for millions of dollars depending on its leasing agreement with BP, a lawyer familiar with oil and gas litigation said.

By Mark Ruquet | Updated on April 25, 2010

NU Online News Service

The firm owning the drilling rig that sank in the Gulf of Mexico could be liable for millions of dollars depending on its leasing agreement with BP, a lawyer familiar with oil and gas litigation said.

Meanwhile, in a filing with the Securities and Exchange Commission, Transocean, a global provider of drilling management services based in Zug, Switzerland, said the insured value of its drilling rig was put at $39 billion in aggregate.

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