Springfield Exploration Set to Sell Offshore Asset
The Government of Ghana (GoG), through the Ghana National Petroleum Corporation (GNPC) and its upstream subsidiary GNPC Explorco, is in advanced and constructive discussions with Springfield Exploration and Production Limited (SEP) on a potential State-led acquisition of SEP’s interest in the West Cape Three Points Block 2 (WCTP2). WCTP2 is considered one of Ghana’s most […]
The Government of Ghana (GoG), through the Ghana National Petroleum Corporation (GNPC) and its upstream subsidiary GNPC Explorco, is in advanced and constructive discussions with Springfield Exploration and Production Limited (SEP) on a potential State-led acquisition of SEP’s interest in the West Cape Three Points Block 2 (WCTP2).
WCTP2 is considered one of Ghana’s most valuable undeveloped deepwater petroleum assets, containing more than 1.5 billion barrels of oil in place (STOIIP) and an estimated 1.2 trillion cubic feet of gas—resources valued at over US $3 billion.
The State’s objective in the negotiations is to fast-track development of the block at a time when Ghana faces a steady decline in crude oil output and increasing uncertainty in global energy investment trends.
According to officials, accelerating work on the block is essential to prevent delays in bringing commercially viable reserves onstream and to strengthen Ghana’s long-term energy security.
The State also intends to explore the possibility of partnering with an international operator to support GNPC or GNPC Explorco in the next phase of development.
For Springfield and its founder, Kevin Okyere, the talks mark an important moment in the company’s trajectory. Founded in 2008, Springfield has grown from petroleum product trading and logistics into a fully integrated energy company, becoming the first wholly Ghanaian-owned firm to drill in deepwater.
The company’s landmark 2019 drilling campaign on WCTP2 led to the Afina discovery, which forms the core of the current acquisition discussions.
Despite the scale of the find, progress has been hindered by unitisation-related challenges.
Commenting on the ongoing process, Kevin Okyere stated:
“We are fully engaged in discussions with the Government regarding the future of the WCTP2 block. Our position is straightforward: this asset must be advanced, and we are committed to ensuring that the process leads to a decisive and constructive outcome that serves the best interest of Ghana and all stakeholders.”
Government officials describe the talks as positive and confirm that updates will be made public as the process advances.
The proposed acquisition is viewed as a strategic step to secure national revenue, ensure continuity in upstream operations, and strengthen Ghana’s broader energy outlook.