Ghanaian firm Springfield discovers 1.2bn barrels of oil in deepwater

An independent Ghanaian energy company, Springfield Exploration and Production Limited (SEP), has discovered more than 1.2 billion barrels of oil in its deepwater drilling off the coast in the Western Region.

Ghanaian firm Springfield discovers 1.2bn barrels of oil in deepwater

The company started its drilling activity in the West Cape Three Points Block 2 in October 2019. A month later it made a discovery that was set to be announced publicly last week but was called off at the last hour.

Chief Executive Officer of SEP Kevin Okyere said this historic achievement attained by his company showed that with determination and perseverance anybody or group of people can succeed.

He explained that when they started as a business many people doubted their ability to go beyond obtaining the Block from the Government. He further indicated that even when the company brought in the world’s largest seismic vessel to Ghana to undertake research, there were ‘doubting Thomases’.

He said that the company's success story would serve as a lesson to other Ghanaians and Africans companies to learn from.

In the past 40 days, Springfield had drilled one well, Afina-1X, and hit two different targets all resulting in significant finds. The company stated that out of the 1.2bn in proven reserves, 30-35 percent would be recoverable in addition to commercially viable quantities of gas.

The company engaged the Stena Forth drillship to carry out its drilling activities in the West Cape Three Points Block 2. The Stena Forth drillship earlier made successful discoveries for Tullow in the South American country of Guyana.

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