But the federal government, Gulf Coast states and individuals and businesses hope to convince a federal judge that the company and its partners in the ill-fated drilling project are liable for much more in civil damages under the Clean Water Act and other environmental regulations.
One of the biggest questions facing U.S. District Judge Carl Barbier, who is hearing the case without a jury, is whether BP acted with gross negligence.
Under the Clean Water Act, a polluter can be forced to pay a minimum of $1,100 per barrel of spilled oil; the fines nearly quadruple to about $4,300 a barrel for companies found grossly negligent, meaning BP could be on the hook for nearly $18 billion.
The judge plans to hold the trial in at least two phases. The first phase, which could last three months, is designed to determine what caused the blowout and assign percentages of blame to the companies involved. The second phase will determine how much crude spilled into the Gulf.
During opening arguments, BP and its partners pointed the finger at each other in a tangle of accusations and counter-accusations. But BP got the worst of it, from its partners and the plaintiffs in the case.
Jim Roy, who represents individuals and businesses hurt by the spill, said BP executives applied "huge financial pressure" to "cut costs and rush the job." The project was more than $50 million over budget and behind schedule at the time of the blowout, Roy said.
"BP repeatedly chose speed over safety," Roy said, quoting from a report by an expert who may testify.
Roy said the spill also resulted from Transocean's "woeful" safety culture and failure to properly train its crew. And Roy said Halliburton provided BP with a product that was "poorly designed, not properly tested and was unstable."