Insurance will cover about $160 million of claims relating to the Deepwater Horizon spill for one company involved.

Anadarko Petroleum Corp. says insurance will cover more than $160 million of costs related to the Gulf of Mexico rig disaster.

The company owns a 25 percent non-operating interest in the field where a rig leased by a unit of BP PLC exploded and sank two weeks ago. Oil continues leaking from the well and the resulting spill is threading wildlife and businesses along the Gulf coastline.

In an SEC filing Anadarko says net insurance coverage will likely total about $177.5 million, less deductibles of $15 million.

Figure that BP likely has a similar policy, so that would be another $160 million towards the costs.