BP Promises $100 Million More

Press Release:

BP today announced that it will establish a $100 million charitable fund to support unemployed rig workers experiencing economic hardship as a result of the moratorium on deepwater drilling imposed by theUnited 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 (BRAF).

This voluntary donation fulfills the commitment BP announced on June 16 to provide $100 million in assistance as a gesture of good will for the people of the Gulf Coast region.

“BRAF has a strong track record of meeting community needs, and we are confident the Foundation will respond effectively to assist the rig workers who today are struggling to make ends meet,” said BP Managing Director Bob Dudley.

“The Foundation is committed to moving as quickly as we can to write grants from this donation by BP,” said John G. Davies, Foundation president and CEO. “This agreement with BP came together over about three weeks, and we are moving rapidly to create the guidelines related to this grant program. We expect to release all the details of the program within two weeks, then to begin taking applications for grants by Sept. 1.”