UPDATE 1-Tullow Oil to shoulder Kosmos' $65 mln burden over Ghana rig dispute [Reuters]
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Source: Reuters
UPDATE 1-Tullow Oil to shoulder Kosmos' $65 mln burden over Ghana rig dispute | Reuters Reuters Staff 3 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 (Adds details) LONDON, July 18 (Reuters) - Britain’s Tullow Oil has to cover nearly $65 million of costs linked to a cancelled rig contract in Ghana after losing a dispute with partner Kosmos Energy, the companies said on Wednesday. The costs relate to a rig contract with Seadrill that Tullow cancelled 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, in which Kosmos Energy, Anadarko Petroleum Corporation, Ghana National Petroleum Corporation and PetroSA also hold stakes. A London judge ordered Tullow this month to pay Seadrill around $254 million, saying Tullow w
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