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Transocean Ltd., the company with ownership of the Deepwater Horizon drilling rig that was leased to British Petrol (BP) and whose explosion led to the massive oil spill in 2010, is due to appear in court to enter a guilty plea with regards to its' partial responsibility in the negligence that led to the environmental disaster.
If the judge overseeing the hearing decides to accept Transocean's criminal settlement, this would see the Swiss-based company pay more than $1 billion in fines for civil and criminal penalties and the violation of the Clean Water Act.
Transocean's hearing comes in the wake of BP's liability trial , due to commence at the end of February 2013.