The Environmental Protection Agency and BP today executed an agreement resolving all suspension and debarment actions against BP that barred the company from doing business with the federal government following the company’s guilty plea in the Deepwater Horizon disaster of April 2010. The administrative agreement will be in place for five years.
“This is a fair agreement that requires BP to improve its practices in order to meet the terms we’ve outlined together,” said EPA Assistant Administrator of Administration and Resources Craig Hooks. Under the agreement, BP is required to retain an independent auditor approved by EPA who will conduct an annual review and report on BP’s compliance with the agreement. There are also specific provisions addressing ethics compliance, corporate governance, and process safety. The agreement additionally provides EPA the authority to take appropriate corrective action in the event the agreement is breached. EPA coordinated this matter with the Department of Interior, Defense Logistics Agency and U.S. Coast Guard. The agreement takes effect immediately.