April 21, 2011, the Deepwater Horizon NRDA Trustees announced an agreement under which BP committed to provide $1 billion toward implementation of early restoration projects. This early restoration agreement is the largest of its kind ever reached and represents an initial step toward fulfilling the responsible parties’ obligation to fund the complete restoration of injured natural resources.
These funds will be divided among the trustees pursuant to an early restoration allocation agreement:
Early restoration provides an opportunity to implement restoration projects prior to the completion of the Natural Resource Damage Assessment (NRDA). NRDAs can be prolonged and complex, in some cases lasting many years. Typically in a NRDA, natural resource trustees develop a restoration plan or series of plans to compensate for the impacts following an assessment of the injuries. When opportunities arise, however, early restoration projects may be developed in order to achieve restoration faster. The long-term damage assessment will continue while early restoration planning is under way.
BP and the other responsible parties ultimately will be obligated to compensate the public for the entire injury and all costs of the NRDA.
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