Transocean, the offshore drilling contractor involved in the BP Macondo Rig oil spill, has agreed to pay $1.4 billion for its part in the disaster. They set aside $1.95 billion to cover any charges that may have been levied against them.

Is it me or do the damages being paid out by the companies involved seem to be very small? This seems tiny, especially in comparison to the amount BP paid, and whilst obviously they would not pay as much this seems too low.

Could there be something else going on behind the scenes? Other deals perhaps that account for these low fines.