Kosmos Energy wins Ghana legal battle with Tullow Oil

West Leo drilling rig (Image courtesy of Seadrill)

US-based Kosmos Energy, one of the developers of the West African FLNG project, said Wednesday it won a legal dispute with UK’s Tullow Oil concerning the termination of a contract in Ghana.

Kosmos unit Kosmos Energy Ghana HC was successful in its arbitration against Tullow Ghana Limited in a dispute over responsibility for expenditures stemming from termination of the West Leo drilling rig contract, the company said in its statement.

The tribunal’s final award in the arbitration was delivered to the parties by the International Chamber of Commerce on July 17.

As a consequence of the arbitration award, Kosmos will not be required to fund Kosmos’ portion of Tullow’s liability to Seadrill, estimated by Tullow to be approximately $50,8 million

Kosmos will also be reimbursed by Tullow for approximately $14 million plus interest, related to amounts previously paid under protest as well as certain costs and fees of pursuing the arbitration, according to the statement.

Kosmos filed a request for arbitration with the International Chamber of Commerce in July 2016.

Share this article

Follow LNG World News


<< May 2019 >>
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

LNG Pricing, Trading & Hedging Singapore

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

Meet with the Gas, LNG & Power Industry in Brazil & the Americas

read more >

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

GIE Annual Conference 2019

The French gas infrastructure operators ELENGY, GRTgaz and Storengy are looking forward to be your hosts in 2019.

read more >