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BP was principal developer of the Macondo Prospect oil field and leased the drilling rig from Transocean Ltd. The U.S. Government has named BP as the responsible party in the incident and will hold the company accountable for all cleanup costs resulting from the oil spill. BP has accepted responsibility for the oil spill and the cleanup costs but indicated that the accident was not their fault as the rig was run by Transocean personnel.

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