Springfield E&P Discovers 1.5 Billion Barrels Of Crude

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Springfield Exploration and Production (E&P) Limited, an independent upstream player in the Republic of Ghana and its partners, Ghana National Petroleum Corporation (GNPC) and GNPC EXPLORCO, on Wednesday, officially announced the discovery of 1.5 billion barrels of crude and gas at its Afina-1 well in Block 2, offshore Ghana.

“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,” a statement from Springfield E&P said.

Afina-1, which is located at a water depth of 1030 metres, was drilled to a total depth of 4,085 metres and encountered light oil with a gross thickness of 65 metres, with 50 metres light net oil pay in good quality Cenomanian sand stones.

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

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.

Commenting on the discovery, Chief Executive Officer of Springfield, Kevin Okyere said: “This is great news for Springfield, Ghana and Africa. We are excited about the discovery as its 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.”

On his part, 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.”

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