Springfield’s $200m Investment Drives Ghana’s Oil Sector Towards New Heights With Afina-1x Appraisal

In a bold step for Ghana’s energy future, Springfield Exploration and Production Limited has initiated a crucial appraisal of the Afina-1x well, aiming to cement its role as a leader in Ghana’s oil sector.

This move follows a landmark tribunal ruling directing the government to permit Springfield’s completion of the Afina-Sankofa unitisation, a process that could significantly boost Ghana’s oil production.

On October 17, 2024, the Deepsea Bollsta offshore rig, contracted from the Northern Ocean in Norway, arrived at the Afina-1x well in the West Cape Three Points Block 2. This marked the start of Springfield’s work to advance the mandated appraisal within the six-month timeline outlined by the tribunal in July. The ruling, which resolved a dispute between the government and Eni Ghana Exploration and Vitol Energy, solidifies Springfield’s legal position and demonstrates the government’s support for local operators.

Springfield’s CEO, Kevin Okyere, shared his pride in reaching this milestone, underscoring the company’s tenacity. “We have a clear understanding of what being an upstream operator entails, and so we have hired the best possible team with over 60 years of collective experience working for all the super-majors and majors of the world,” he said.

“We work with all the best blue-chip companies to execute all technical works, studies, and drilling programmes. Being a smaller operator but working with the same expertise and diligence as the big operators, we can make decisions swiftly to benefit all our stakeholders, including the government and people of Ghana.”

“Our research has shown that during this busy time in the drilling industry, rigs would not be available for another year, and yet Springfield managed to find one, and drilling commenced. This has all happened within a space of three months. It is worthy of note that consistent with its track record and show of resilience, despite what challenges Springfield has faced, it always bounces back stronger and find solutions for every situation it finds itself in,” Okyere also said.

The project represents a $200 million investment to date.

Springfield’s appraisal, estimated at $65 million, is a pivotal component in the company’s vision for an independent and resilient Ghanaian oil sector. The project will span six weeks, with Springfield working closely with blue-chip partners to ensure technical precision. At a recent stakeholders’ engagement, Okyere underscored the national impact of the project, celebrating the arrival of the rig as a critical advancement. “We’re going ahead to build this appraisal well to help stop the decline in Ghana’s production and boost output for our economy,” he shared.

Okyere expressed optimism about the current appraisal, saying, “With the properties that we’ve seen, it should be beyond a miracle for the oil not to flow.”

Okyere’s leadership has guided Springfield’s meteoric rise in Ghana’s oil and gas sector, marking it as the first African company to operate a deep offshore oil block and discover hydrocarbons independently. The Afina-1X project represents not only Springfield’s ambition but also a national symbol of what local enterprise can achieve, with Springfield holding an 84% interest in West Cape Three Points Block 2.

With Springfield’s progress and dedication, Ghana’s energy sector looks toward a future marked by indigenous innovation, economic empowerment, and resilience. The Afina-1X appraisal may prove to be a turning point, not only for Springfield but for the national economy and Ghana’s standing on the global energy stage.

Follow us on: