It said the agreement, the largest ever of its kind, represented a first step toward fulfilling BP’s obligation to fund the complete restoration of harmed public resources, such as rebuilding coastal marshes and replenishing damaged beaches.
The Justice Department said the agreement does not affect the ultimate liability of BP or any other company for environmental damages or other liabilities, but lets restoration projects get started sooner.
The states of Florida, Alabama, Mississippi, Louisiana and Texas will each select and implement $100 million in projects while the rest of the money will be used for projects picked by the federal government or by trustees for the oil spill, the department said.
The agreement was announced the day after the one-year anniversary of the worst offshore oil spill in US history.
