Mr Hayward is expected to tell a Congress committee that he is "personally devastated" by the spill.
The firm has withheld shareholder dividends to help finance the fund.
Meanwhile, BP's containment device for the ruptured well is back up and running after a brief shutdown.
The capping system, which pipes leaking oil to a vessel on the ocean surface, was switched off for five hours on Tuesday after lightning struck the containment ship.
And BP announced on Wednesday that a second containment system had been launched, designed to bring oil and gas to the surface for burning.
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