BP AND the lawyers representing more than 100,000 victims of the 2010 Gulf of Mexico oil spill have reached an estimated $7.8 billion (€5.9 billion) out-of-court settlement over damages, delaying the trial that had been due to start today.

The settlement, which BP said was “not an admission of liability”, will be funded out of the $20 billion that BP promised as compensation for the damage caused by the spill.

The deal includes $2.3 billion for gulf fishermen and a separate settlement for people who say they have fallen sick with $105 million to pay for healthcare in the region.

Legal action against other companies involved in the disaster, and between those companies, and claims by the US authorities, are continuing.