The head of the US Justice Department, Attorney General Loretta Lynch, hailed Thursday the record $18.7 billion settlement with BP on civil claims over its 2010 Gulf oil spill.

"If approved by the court, this settlement would be the largest settlement with a single entity in American history; it would help repair the damage done to the Gulf economy, fisheries, wetlands and wildlife; and it would bring lasting benefits to the Gulf region for generations to come," Lynch said in a statement.