BP establishes $100 million fund through Baton Rouge foundation

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Posted: Jul 30, 2010 9:08 AM by Andrea Fontenot
Source: BP

  Rating: 1.0 (1 vote)

Topics: BP, $100 million, fund, unemployed, rig, workers, economic, hardship, moratorium, deepwater, drilling, The Rig Worker Assistance Fund

BP today announced the company will establish a $100 million fund to help unemployed rig workers experiencing economic hardship as a result of the moratorium on deepwater drilling imposed by the United States federal government.

The Rig Worker Assistance Fund will be administered through the Gulf Coast Restoration and Protection Foundation, a supporting organization of The Baton Rouge Area Foundation.

BP voluntarily donated the assistance money as a gesture of good will for the people of the Gulf Coast region.

John G. Davies, Foundation president and CEO, says "We expect to release all the details of the program within two weeks, then to begin taking applications for grants by Sept. 1."

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