British oil giant BP said Monday it has made 399 million U.S. dollars of claim payments during the 16 weeks it managed claims related to the oil spill in the Gulf of Mexico.
BP, which on Monday transferred its individual and business claims program to the Gulf Coast Claims Facility (GCCF), said in a press release its claims team will continue to handle government claims and funding requests.
Since May 3 when BP paid its first claim, it has written 127, 000 checks to affected individuals and business owners along the Gulf coast, the company said.
The GCCF was established in June as part of an agreement between the U.S. government and BP to assist claimants in filing claims for costs and damages related to the BP oil spill.
Kenneth R. Feinberg, administrator of the GCCF, said Monday the claim facility is fully functioning and will begin to process claims for emergency payment.
BP-leased Deepwater Horizon drilling rig exploded off the Louisiana coast on April 20, unleashing the worst oil spill in U.S. waters and severely impacted the fishing, tourism and oil industry- based economies of the U.S. Gulf Coast.