Halliburton To Settle Billions Claims Over Deadly Mexico Oil Rig

Halliburton has agreed to pay $1.1bn (£665m) to settle a majority of plaintiff claims stemming from the 2010 Gulf of Mexico oil spill.

The settlement, subject to court approval, will be paid in three instalments over the next two years.

The payments will be placed in a trust until all appeals are resolved, the energy services giant said in a statement.

Halliburton was BP's cement contractor on the Deepwater Horizon drilling rig that exploded in April 2010, killing 11 workers and triggering the largest offshore oil spill in US history.

Millions of gallons of oil spewed into the Gulf while BP scrambled for weeks to seal the well.

To date, BP has paid out more than $28bn (£17bn) in the wake of the spill.