Maritime Accident News

Transocean rig insured for $560 million

Switzerland based Transocean Ltd., owner of the sunken Deepwater Horizon platform, said that the loss and wreck removal are covered.

"Transocean is committing all necessary resources to support ongoing efforts to stop the flow of hydrocarbons from the well," a company statement read.

The rig’s insured value is $560 million. The platform sits about 5,000 below the surface of the Gulf of Mexico 1,500 feet northwest of the well which is still leaking about 42,000 gallons of oil per day.

Source: Reuters

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