MONTGOMERY, Alabama — Alabama and other coastal states have finalized a settlement of damage claims arising from the 2010 Deepwater Horizon oil spill.
The agreement finalized Monday resolves all civil claims against BP over the spill that dumped 134 million gallons of oil into the Gulf of Mexico.
Under the $20 billion settlement, BP will pay nearly $5 billion directly to Alabama, Florida, Louisiana, Mississippi and Texas.
Most of Alabama's $1 billion will go the state general fund over the next 18 years. The settlement also includes $50 million for Alabama Gulf State Park.
BP will also have to pay $5.5 billion in Clean Water Act penalties and $8.1 billion for coastal restoration projects.
The spill followed the April 2010 explosion on an offshore rig that killed 11 workers.