Transocean Ltd. says it had its “best year in safety performance in our company’s history” despite the explosion of its oil rig that killed 11 workers and spilled 200 million gallons of oil into the Gulf of Mexico. Its top executives will get two-thirds of their safety bonuses.
The company noted “the tragic loss of life” in the Gulf in a filing with the Securities and Exchange Commission, according to the AP. Transocean said it still had an “exemplary” safety record because it met or exceeded certain internal safety targets concerning the frequency and severity of its accidents.
Safety accounts for 25% of the executives’ total cash bonuses.
The filing said bonuses were appropriate as a way to recognize its executives’ efforts in “significantly improving the company’s safety record.”
While Transocean execs are getting safety bonuses, recent reports said federal prosecutors were deciding whether to pursue manslaughter charges against BP executives in connection with the Deepwater Horizon explosion.
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