Springfield Group Confirms 1.5 Billion Barrels of Oil in Recent Discovery

Following its most recent deepwater discovery offshore Ghana, Ghanian explorer Springfield Group has confirmed that over 1.5 billion barrels oil and around one trillion cubic feet of proven gas were found in the Afina-1 well, with a potential of over three billion barrels of oil.

Springfield has made history by being the first independent African energy company to drill in deepwater and find significant volumes of hydrocarbons.

“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,” said Kevin Okyere, Springfield’s Chief Executive Officer.

Okyere also noted the role of multinational Tullow Oil in achieving the milestone discovery, as well as that of state-owned Ghana National Petroleum Corporation (GNPC) and the government of Ghana.

“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,” said Dr. Kofi Koduah Sarpong, Chief Executive Officer of GNPC.

Ghana currently produces about 200,000 barrels of oil per day, half of which is derived from Tullow’s Jubilee field.