Springfield E&P makes significant oil discovery offshore Ghana

ACCRA - Springfield Exploration and Production (SEP) Limited and its partners, Ghana National Petroleum Corporation (GNPC) and GNPC EXPLORCO, have made a significant oil discovery following its maiden Afina-1 well drilling campaign in the West Cape Three Points (WCTP) Block 2, offshore Ghana.

Afina-1 which is located at a water depth of 1030 meters was drilled to a total depth of 4085 meters and encountered light oil with a gross thickness of 65 meters, with 50 meters light net oil pay in good quality Cenomanian sandstones.

The secondary target in Turonian age sands was drilled at the edge of the structure and encountered 10 meters of hydrocarbon bearing sands consisting of light oil and gas.

Springfield has more than doubled its discovered oil in place volume to 1.5 Bbbl and added 0.7tcf of gas. The current undiscovered potential of the Block is estimated at over 3 billion barrels of oil and gas in multiple leads and prospects within various proven reservoir units.

With this, Springfield has made history as the first Independent Ghanaian and African Energy Company to drill in deepwater and find hydrocarbons. Springfield is currently the Operator and Majority Interest Holder (84%) of WCTP Block 2, with GNPC and its exploration company, EXPLORCO, holding the remaining interest.

Kevin Okyere, CEO of Springfield, said “This is great news for Springfield, Ghana and Africa. We are excited about the discovery as it ties into our vision of becoming a leading African upstream player with a global focus. This for us means increased opportunities to impact the lives of our people positively with the resources.”

Dr. K. K. Sarpong, chief executive of GNPC said “As the national oil company of Ghana, GNPC is proud of this feat, chalked in this all-Ghanaian partnership. This achievement fits into GNPC’s strategic pillars of: ‘replacing and growing reserves’ as well as ‘enhancing sustainability through local content development…’ This discovery demonstrates once again the high prospectivity of Ghana’s sedimentary basins and the Ghanaian capacity to deliver, given the opportunity.”