StockMarketWire.com - Tullow Oil said that it had lost a legal dispute against Kosmos Energy related to costs associated with a disputed rig-hire contract in Ghana.

A panel of arbitrators, working under the jurisdiction of the International Chamber of Commerce, said Kosmos was not liable for its share costs, which amounted to $50.8m.

Tullow Oil had already lost a dispute with rig supplier Seadrill, but was hoping joint venture partner Kosmos would cover some of the costs.

The arbitration award also ruled that Tullow was due to reimburse Kosmos for some of its legal and rig demobilisation costs, Tullow said



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