Kosmos wins arbitration with Tullow

ACCRA, July 18, 2018 – Kosmos Energy Ghana will not have to pay its share of costs to Seadrill over a contract cancelled by Tullow Ghana, the company announced Wednesday.

Kosmos’ portion was estimated at USD 50.8 million, and Tullow will reimburse USD 14 million previously paid with interest, according to the press release.

Earlier in the month a London judge ordered Tullow Oil to pay Seadrill USD 254 million for the force majeure cancellation of its contract with the rig owner. The sum includes a termination fee and standby fees for wrongful termination of the deal.

Tullow had cancelled the contract in December 2016 following a drilling moratorium at the TEN field, located in waters both Côte d’Ivoire and Ghana claimed.

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