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Springfield Assures Ghana of its Commitment to Sustainable Social Investments in Local Communities

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 The Springfield Group has assured residents of the western region, the hub of Ghana’s oil and gas activities, and other parts of the country that it is committed to the establishment of a community development fund to support the development efforts of local authorities.

The assurance was given during interactions with selected community leaders, fishermen and other stakeholders in the Western Region prior to a seismic data acquisition campaign on West Cape Three Points Block 2.  During the engagement, the Group’s CEO represented by its Corporate Affairs Manager, Mr. Kennedy Noonoo, stated that the Springfield Group believes that natural resources are for the collective benefit of all Ghanaians and it is thus the Group’s moral duty to ensure that it undertakes sustainable social investments in local communities in an all-inclusive manner. 

Mr. Noonoo went on to state that the Group intends to establish a Community Development Fund to be managed by a carefully constituted board to ensure fair, equitable and economically prudent management. Mr. Noonoo stated further that the Fund would make long-term social investments in local communities in identified priority areas that enhance living standards and enable sustainable development. He expanded that projects will not be imposed but rather the “bottom-up” approach to project selection will be utilized to identify the priority areas unique to each community as studies have shown this approach provides the most benefit to the people as it considers their needs.

 

 

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This assurance comes in the wake of growing apathy amongst some residents of the region and in the country, with some expressing concern about the rising cost of living in the oil region without commensurate improvement in the standard of living in those communities.

The stakeholders expressed their delight to know that Springfield, as a 100% Ghanaian independent company, had taken the bold initiative to offer Ghana a foothold in the oil and gas sector and pledged their unflinching support to the Group.

Springfield, a wholly owned Ghanaian entity, is the operator of West Cape Three Points Block 2- a deep-water block offshore Ghana. Springfield recently completed a seismic data acquisition campaign over the entire Block in April 2017 and is currently conducting exploration evaluation and appraisal of its existing discoveries with a view to commencing a drilling campaign in 2018.  Springfield is gradually lighting up high expectations in Ghanaians who see it as a trailblazer in the largely foreign dominated exploration and production business.