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Court Ruling Goes in Favour of Kosmos Energy

  • SOURCE: Reportingoilandgas | Gideon Ofosu-Peasah
    • POSTED ON: July 19, 2018
    • CATEGORY:

    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.

     

     

    Gideon Ofosu-Peasah

    Gideon Ofosu-Peasah

    Policy Analyst at Penplusbytes
    Gideon Ofosu-Peasah is the Policy Analyst and Team Lead for the Extractives Department at Penplusbytes, where he provides insights, advice and leads in producing robust research backed projects for the team. He has over 7 years of experience in the Ghanaian oil and gas industry and has a number of scholarly research papers to his credit which have been published in the prestigious Social Science Research Network(SSRN) electronic journal and on reportingoilandgas.org. He holds an Msc in Economics with specialization in Energy and Natural Resource Economics from the Kwame Nkrumah University of Science and Technology.
    Gideon Ofosu-Peasah

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