The sports category has moved to a new website.

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

An indigenous oil and gas firm in Ghana, Springfield Exploration and Production (SEP) Limited has disclosed that it has made a significant oil discovery following its maiden Afina-1 well drilling campaign in the West Cape Three Points (WCTP) Block 2, offshore Ghana.

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

ADVERTISEMENT

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.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

10 African cities with the highest crime index at the start of 2024

10 African cities with the highest crime index at the start of 2024

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Details of Ngina Kenyatta's luxurious restaurant

Details of Ngina Kenyatta's luxurious restaurant

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

10 African countries with the strongest military power in 2024

10 African countries with the strongest military power in 2024

ADVERTISEMENT