Governor Rick Scott says part of the settlement with Transocean Deepwater should be used to restore the Florida Panhandle's beaches and economy. Transocean will plead guilty and pay $1.4 billion for its role in causing the nation's largest oil spill in the Gulf of Mexico in 2010.
The spill caused biological damage and a massive slowdown in the fishing and tourism industries in Florida, Louisiana, Mississippi and Alabama. Scott wants Florida to be fairly compensated when the U.S. Justice Department divides the money.
"My goal is that they commit to allocate those dollars to our state, not keep those dollars up in Washington, but do it to make sure our beaches are pristine, make sure that we market our state, make sure we solve all the problems that it caused us", said Scott.
The U.S. Justice Department says Transocean will plead guilty to violating the federal Clean Water Act.
The world's largest offshore drilling contractor confirmed the settlement and said that as part of the agreement, the Justice Department won't pursue further action against it.
The company admitted wrongdoing and will pay $400 million in criminal fines, while continuing to aid the federal investigation.