According to Tullow, a panel of arbitrators, working under the jurisdiction of the International Chamber of Commerce, has delivered an award in favour of Kosmos Energy Ghana HC (Kosmos) in relation to its dispute with Tullow Ghana Limited.(Tullow) regarding its share of the liability of costs related to the West Leo rig beyond 1 October 2016. The tribunal’s award is final and binding.
This was announced in a statement released by Tullow Oil.
As a result of this ruling, 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 Ltd (Seadrill) against Tullow. The arbitration award also provides that Tullow is due to reimburse Kosmos for some of its legal and rig demobilisation costs.