The United States has announced a more than $20 billion settlement of federal and state claims against BP over the Macondo oil spill five years ago, Reuters reported.

US Attorney General Loretta Lynch said that the agreement is “the largest settlement with a single entity in American history.”

BP had announced in July that it would pay up to $18.7 billion in penalties to the US government and five states to resolve nearly all claims from the April 2010 Deepwater Horizon oil spill. At the time of this announcement, the settlement was still pending court approval.