"While we have not had a chance to review this agreement in detail, we are pleased to see that this historical agreement will help repair the damage done to the local economies of the gulf and to the wetlands, wildlife and fisheries impacted so severely by the Deep Water Horizon spill," White House spokesman Eric Schultz told reporters travelling on Air Force One.

(Reporting by Jeff Mason, Roberta Rampton, Megan Cassella; Editing by Doina Chiacu)