The Government of Ghana, through the Ghana National Petroleum Corporation (GNPC), has initiated steps toward a possible state-led takeover of Springfield Exploration and Production’s Afina-1x oil well located in the West Cape Three Points Block 2, one of Ghana’s most debated undeveloped oil fields.
An official statement from the Ministry of Energy and Green Transition reveals that GNPC and its upstream subsidiary, GNPC Explorco, are engaged in constructive discussions with Springfield. This strategy aims to protect Ghana’s petroleum assets and prevent commercially viable reserves from remaining undeveloped.
To ensure transparency and a thorough technical review, the Petroleum Commission and GNPC have launched a procurement process to appoint an independent technical consultant and a transactional advisor. Their responsibilities include conducting a detailed technical evaluation of the WCTP2 block, auditing and verifying prior expenditures, and preparing financial and commercial due diligence reports. They will also perform an independent valuation of Springfield’s stake.
These independent assessments are designed to guarantee a fair, commercially sound foundation for any potential acquisition. The government plans to reposition the asset for accelerated development, possibly in partnership with experienced deepwater operators.
“This approach ensures that all decisions are evidence-based, commercially prudent, and serve the best interests of the Republic of Ghana,” said Richmond Rockson, Spokesperson and Head of Communication at the Ministry of Energy and Green Transition.
The statement emphasized that these processes do not interfere with ongoing investigations involving Springfield or its affiliates and that institutional independence is fully maintained.
This move follows years of stalled progress on the Afina field despite its confirmed discovery, amid declining oil production and shifts in upstream investment driven by global energy transition.
The government reaffirmed its commitment to local content and indigenous participation, highlighting that any future development of the WCTP2 asset will align with national policies to foster a competitive, Ghanaian-led oil and gas industry.
Story by: Mercy Addai Turkson #ahotoronline.com