Plugging the 11th oil well of 19 on Beverly Hills Unified School District property is 75% complete, and will be completed next week, according to district staff.

Plugging of the oils wells continues following the school board’s approval of an agreement with the city of Beverly Hills over how to fund the project.

“I am pleased with the collaboration and cooperation between BHUSD and the city and I look forward to seeing the completion of this project,” Superintendent Michael Bregy said.

The City Council approved the agreement during a meeting in early May. The agreement would cap the city’s contributions to the wells project, which the city estimates will cost $23-28 million, at $11 million, and the school district will pay the remainder.

The deal puts an end to a disagreement that began in March, when the school board rejected a previous offer from the city that would have limited the city’s costs to $8 million. School board members wanted to seek a more even split based on the fact that the two sides benefited from oil well profits when they were in operation.

The negotiations over the costs of plugging the wells stem from an appeal from the city and school district over a decision by a U.S. Bankruptcy Court to allow oil and gas drilling company Venoco, which leased the site from the district, to leave the wells almost two years ago without decommissioning the site in accordance with state and local law. The court allowed Venoco to leave without further responsibility to monitor or plug the wells, which have not been in operation for years, and left the costs of plugging the wells with the school district and city.

Under the deal, the city would pay $11 million if costs reach $24 million or more, $10.5 million if costs are between $23-24 million, $10 million if costs are between $22-23 million or $9 million is costs are $22 million or less.

The school district will use funds from Measure BH, a $385 million construction bond measure, to cover its share of the costs.