Tullow Oil to shoulder Kosmos' $65 mln burden over Ghana rig dispute [Reuters]
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Source: Reuters
Tullow Oil to shoulder Kosmos' $65 mln burden over Ghana rig dispute | Reuters Reuters Staff 2 Min Read * Tullow to pay Seadrill over cancelled rig contract * Tullow wanted to claim money back from its partners * Arbitration panel rules Kosmos does not have to pay LONDON, July 18 (Reuters) - Britain’s Tullow Oil has to cough up around $65 million for Kosmos Energy’s share and legal fees over a cancelled rig contract in Ghana, the companies said on Wednesday. A London judge had ordered Tullow this month to pay rig owner Seadrill around $254 million, saying Tullow was wrong to end the contract on the grounds of force majeure over a maritime border dispute in West Africa. Tullow cancelled the contract for Seadrill’s West Leo rig in December 2016 after Ghana set a drilling moratorium on its TEN offshore oil and gas field which is located in waters then claimed by both Ghana and Ivory Coast. Tullow is lead operator of the project, while Kosmos Energy, along with Anadarko Petroleum Corporat
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