Kosmos Energy has secured a judgement against Tullow Ghana Limited (Tullow) regarding its share of the liability of costs related to the West Leo rig.
The tribunal's award which is final and binding was secured from a panel of arbitrators, working under the jurisdiction of the International Chamber of Commerce.
TEN partner Kosmos Energy was disputing its share of responsibility for the fees to be paid Seadrill which secured judgement against TEN partners for wrongful termination of its contract and is seeking arbitration at the International Chamber of Commerce, which might result in Tullow having to pay the fees for KOS's 20% stake in the field, or $50.8 million.
The ruling means that Kosmos Energy is not liable for its share of costs of some $50.8 million, arising from the recent case that Seadrill Ghana Operations Ltd won against TEN partners.
With the ruling Tullow is expected to reimburse Kosmos for some of its legal and rig demobilisation costs.
It will be recalled that Tullow Oil was ordered by a London judge to pay rig owner Seadrill a contract termination fee and other standby fees totalling $254 million.
The court in its ruling pointed out that, Tullow was wrong to have cancelled a rig contract in 2016 after Ghana's government set a drilling moratorium on its TEN offshore oil and gas field located in waters then claimed by both Ghana and Ivory Coast.
Tullow the lead partner in the TEN project with 47% stake, had told the press that, its net share of fees totals $140 million in the company had set aside some $128 million for the dispute with Seadrill.
But the company has said that it would decide within weeks whether it would appeal the ruling.
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