BP has informed that it had already paid 3.0 billion dollars towards the initial deposit for the oil spill victims at the Gulf of Mexico. The company has to pay this amount for the purpose.

US has earlier announced that it will manage 20-billion-dollar of fund for the reimbursement of the victims of the oil spill disaster and had collected the initial payment from the company for the compensation.

BP's incoming chief executive Bob Dudley has informed that, the main purpose of such payment is to support the victims. The company will do its best to stand behind its commitment to those victims of the massive disaster.

Moreover, the company had also committed for such payment with the US Government. As per Dudley, it was the assurance from his firm to the victims and the American taxpayers.

He has also said that, the initial deposit was made before the schedule and it will establish an environment of trust. The Obama administration had earlier received commitments from BP to pay into the account in mid-June.