A panel of arbitrators, working under the jurisdiction of the International Chamber of Commerce, has ruled in favour of Kosmos Energy Ghana in relation to its dispute with Tullow Ghana Limited over the West Leo Rig.
This was announced in a statement released by Tullow Oil.
In this regard, Tullow Oil is to reimburse Kosmos Energy, some 14 million dollars plus interest, as well as certain costs and fees of pursuing the arbitration.
The dispute was in connection with Kosmos Energy’s share of the liability of costs related to the West Leo rig.
According to Tullow, per the result, Kosmos is not to fund its portion of Tullow’s liability to Seadrill, estimated at approximately 50.8 million dollars.
Kosmos filed a request for arbitration with the International Chamber of Commerce in July 2016.