After MOEX USA Corp.’s agreement on handing over $1.07 billion in order to settle claims from the Deepwater Horizon disaster, BP Plc shares rose nearly 4% on Friday. MOEX USA Corp. is one of the co-owners of the Macondo oil in the Gulf of Mexico and owns a 10% stake in the company through a subsidiary.

Through the agreement, MOEX becomes first of BP’s partners which agrees to contribute to the disaster´s cost in the Gulf of Mexico. Last year, the oil company established a $20 billion trust to pay claims resulting from the oil spill.

According to BP’s managers, the company acknowledged the conclusions of the American Coast Guard stating that the safety management systems of Transocean Ltd. and its Deepwater Horizon rig had significant deficiencies, leading for the lack of prevention of the accident. The company says it agreed to cover MOEX for compensation claims due to the disaster only, but not from criminal or civil penalties from claims for damages. According to BP’ spokesperson the agreement is not an admission of responsibility by either party.

Now the company is calling on other partners to contribute to the high costs of cleaning up the spill after last year´s disaster.