Ghana's Springfield confirms the discovery of 1.5 billion barrels of oil in the country

According to the firm, it 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, Springfield added.

The Chief Executive Officer of Springfield, Kevin Okyere who disclosed the news 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.”

About the Afina-1 well drilling

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.

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.

The Ghana National Petroleum Corporation (GNPC) and GNPC EXPLORCO partnered Springfield for the project.