Tullow Oil has announced that a panel of arbitrators, working under the jurisdiction of the International Chamber of Commerce, has delivered an award in favour of Kosmos Energy Ghana in relation to its dispute with Tullow Ghanaregarding its share of the liability of costs related to theWest Leo rig beyond 1 October 2016. The tribunal’s award is final and binding.
As a result, Kosmos is not liable for its share of costs, being $50.8m, arising from the recent case in the English Commercial Court brought by Seadrill Ghana Operations against Tullow. The arbitration award also provides that Tullow is due to reimburse Kosmos for some of its legal and rig demobilisation costs. Source: Tullow Oil