UPDATE:BP Spent $2.35B To Date On Oil Spill;Cleanup Continues

(Adds details) By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Embattled oil major BP PLC (BP) said Friday it has spent $2.35 billion to date to clean up, contain and payout claims and grants to the states on the Gulf of Mexico that have been impacted by the U.S.'s largest oil spill. This compares to $2 billion spent to date as of Monday this week. BP said a total of 364,500 barrels of oil have been recovered or flared by its containment systems to date, with 16,830 barrels collected on Wednesday. The BP systems also flared 36.7 million cubic feet of gas. The amount of oil collected Wednesday was lower than previous days because a cap that connects the Deep Water Horizon oil rig's failed blowout had to be replaced after a collision with an underwater robot. The underwater collision is the largest setback for BP's oil collection efforts since the company installed the containment cap over the leaking well nearly three weeks ago. The cap connects with a vessel via a mile-long pipe, helping siphon up to 18,000 barrels of crude a day. BP said the two capture systems continue to collect oil and gas flowing from the Deepwater Horizon's failed blowout preventer and transport them to vessels on the surface. With the successful reinstallation of a cap on the blowout preventer on Wednesday, BP may be able to stick to its plan of capturing 53,000 barrels a day by early next week, nearly doubling its capacity to contain the leaking oil. Government and independent scientists estimate that about 35,000 to 60,000 barrels of oil a day are flowing from the well. The underwater collision is unlikely to be the last of BP's setbacks: the region is bracing for the height of hurricane season, in which powerful storms could disrupt spill-containment operations for several days at a time, as the flotilla of response vessels scrambles for safety. The company has also been dealing with claims from people, businesses and organizations that have been impacted by the oil spill. To date, almost 74,000 claims have been filed and more than 39,000 payments have been made at a total cost of $126 million. The company has set up a $20 billion fund to satisfy certain obligations arising from the oil and gas spill. It said it is still "too early to quantify other potential costs and liabilities associated with the incident." BP has been trying to contain the oil spill ever since an explosion on its Deepwater Horizon oil rig killed 11 people on April 20. Company Website: http://www.bp.com -By Alex MacDonald, Dow Jones Newswires; 44 20 7842 9328; alex.macdonald@dowjones.com (END) Dow Jones Newswires June 25, 2010 04:20 ET (08:20 GMT)