LNG

July 18 (LNGJ) - Kosmos Energy, the Dallas-based partner of BP of the UK in the development of floating LNG projects offshore Senegal and Mauritania in West Africa, has been successful in an arbitration case brought by its subsidiary in another West African country, Ghana, against Tullow of the UK. The dispute was over responsibility for expenditure stemming from termination of the West Leo drilling rig contract in Ghana. The tribunal’s final award in the arbitration was delivered to the parties by the International Chamber of Commerce. As a consequence of the arbitration award, Kosmos will not be required to fund its portion of Tullow’s liability to Seadrill, estimated by Tullow to be around $50.8 million. “Kosmos will also be reimbursed by Tullow for approximately $14 million plus interest, related to amounts previously paid under protest as well as certain costs and fees of pursuing the arbitration,” said the US company.

ExxonMobil said it signed an agreement with the government of the West African state of Ghana, currently involved in LNG import plans, to acquire exploration and production rights for the Deepwater Cape Three Points block.