Vessels work at the site of the Deepwater Horizon accident in 2010. EPA had restricted BP's government contracting opportunities as a result of the spill. (Win McNamee/Getty Images)
The Environmental Protection Agency lifted the suspension and debarment of BP under an agreement announced March 13.
The agreement requires BP to retain an independent auditor to conduct annual reviews and reports on ethics compliance, corporate government and agreed upon safety standards.
EPA also has the authority to take corrective action if BP breaches the agreement.
Since November 2012, the EPA has suspended 25 BP entities and disqualified BP Exploration and Production, Inc. from performing federal contract work at its corporate facility in Houston, Texas, stemming from its criminal conviction in the U.S. Government’s Deepwater Horizon case.
“This is a fair agreement that requires BP to improve its practices in order to meet the terms we’ve outlined together,” said Craig Hooks, assistant administrator for EPA's Office of Administration and Resources Management.
The EPA coordinated the agreement with the Interior Department, the Defense Logistics Agency and the Coast guard.