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Upstream

Upstream

 

Springfield ventured into the upstream sector to secure private Ghanaian involvement in upstream exploration and production opportunities primarily in Ghana and Africa.

The Government of Ghana recently awarded us our pioneer asset, West Cape Three Points Block 2 Offshore Ghana (WCTP2). The award was ratified and became effective in 2016. WCTP2 is 673 square km and located in the Tano / Western Basin. We are the Operator and majority interest holder of WCTP2 with the Ghana National Petroleum Corporation and its exploration company (Explorco) holding a minority interest.

We are the first wholly Ghanaian owned independent entity to hold a majority interest and operate an oil and gas asset in Ghana. Our goal is to be the first wholly Ghanaian owned independent entity to operate a producing oil and gas block in Ghana. We hope to achieve this through joint operatorship and partnerships that boost our financial and technical capacity in furtherance of our local content development and capacity building objective for value addition to the economy. To this end, Springfield is establishing partnerships with experienced international and local firms that further our goal.

We are currently evaluating the existing discoveries in WCTP2 whilst simultaneously conducting exploration activities for new leads and prospects including a 3D broadband seismic survey campaign, which was conducted over the entire block. A drilling campaign is slated to commence in 2018. We are also exploring new large-scale investment opportunities in Africa for predominantly gas as well as oil projects.

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