Ghanaian Firm Springfield Discovers 1.5 Billion Barrels of Oil

12 December 2019

Springfield Exploration and Production (SEP) Limited and its Partners, Ghana National Petroleum Corporation (GNPC) and GNPC EXPLORCO, officially announce 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 metres was drilled to a total depth of 4085 metres and encountered light oil with a gross thickness of 65 metres, with 50 metres 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 metres of hydrocarbon bearing sands consisting of light oil and gas.

Springfield has more than doubled its discovered oil in place volume to 1.5 billion barrels 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.

Chief Executive Officer of Springfield, Kevin Okyere, in a statement issued in Accra yesterday 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," he said.

See What Everyone is Watching

More From: Ghanaian Times

Don't Miss

AllAfrica publishes around 600 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.