BP: Gulf Oil Spill Response Costs Up To $2 Billion

21st Jun 2010 07:18

LONDON (Dow Jones)--BP PLC (BP) Monday said costs related to its Gulf of Mexico oil spill response had reached $2 billion as it continues work to contain the leak and to pay claims for damages. "It is too early to quantify other potential costs and liabilities associated with the incident," the company said in a statement. BP last week agreed to set up a $20 billion claims fund over 3 1/2 years. BP is planning to add a third system to collect oil spilling out of the damaged well around the end of June or early July. Two systems now in place collected 11,050 barrels of oil on Saturday. The well is estimated to be leaking between 35,000 and 60,000 barrels of oil a day into the Gulf's waters. -By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; [email protected] (END) Dow Jones Newswires June 21, 2010 02:18 ET (06:18 GMT)