Tullow ordered to pay Seadrill $254 mln
Ghana 
ACCRA, July 4, 2018 – A London judge ordered Tullow Oil to pay Seadrill USD 254 million for the force majeure cancellation of its Ghana contract with the rig owner, local media reported on Tuesday.
The sum includes a termination fee and standby fees for wrongful termination of the deal, Pulse reported.
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. In September 2017, the Special Chamber of the International Tribunal of the Law of the Sea ruled that the TEN fields lay on Ghana’s side of the maritime border with Côte d’Ivoire, allowing Tullow to resume drilling activities there.
“We are disappointed with the decision and maintain the view that it was right to terminate the West Leo [rig] contract for force majeure. Tullow will now examine its options, including seeking leave to appeal the judgment,” Tullow said in a statement.
The TEN fields are operated by Tullow with 47.175% share of the licence. Joint venture partners are Kosmos Energy (17%), Anadarko Petroleum (17%), GNPC (15%) and PetroSA (3.82%). A decision in a separate case with Kosmos over the rig contract is expected soon, and Tullow could be ordered to pay Kosmos’ share of the rig fees as well.
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