Halliburton to Settle US Gulf Spill Claims for $1.1b

Halliburton Co said it reached a $1.1 billion settlement for a majority of claims against the company for its role in the BP oil spill in the Gulf of Mexico in 2010.

The settlement, which includes legal fees, is subject to approval by the U.S. District Court for the Eastern District of Louisiana.

It will be paid into a trust until all appeals have been resolved in three installments over the next two years, the company said.

(Reporting by Swetha Gopinath in Bangalore; Editing by Saumyadeb Chakrabarty)