On April 21, 2011, the Deepwater Horizon Natural Resource Damage Assessment Trustee Council announced an agreement under which BP committed to provide $1 billion toward implementation of early restoration projects. This agreement is the largest of its kind ever reached. It represents an initial step toward fulfilling the responsible parties’ obligation to fund the complete restoration of injured natural resources.
These funds are divided among the trustees:
• $500 million split equally among the Gulf state trustees (Louisiana, Mississippi,Alabama, Florida and Texas)
• $200 million split equally between the federal trustees (National Oceanic and Atmospheric Administration and the U.S. Department of the Interior)
• $300 million to fund additional state-proposed restoration projects to be selected by federal trustees
EARLY.RESTORATION.PHASE II (The State of Mississippi is not implementing a NRDA Early Restoration Phase II project)