Connection

popular articles

Poland: TotalEnergies invests in renewable energies
ECB: Gas price shocks amplify eurozone inflation
Iran accelerates uranium enrichment with advanced centrifuges
Increased surveillance of Kursk power plant amid Ukrainian offensive
Radial Power acquires 22.3 MW of community solar projects in New York City

Ghana: Springfield Validates the Potential of Offshore Well Afina-1x

Ghana: Springfield Validates the Potential of Offshore Well Afina-1x

Please share:

After several weeks of operations in Block 2 of the West Cape Three Points (WCTP 2), independent oil company Springfield confirmed significant hydrocarbon discoveries in the Afina-1x well, located offshore Ghana. These results mark a key step in the development of the country’s energy resources.

The evaluation activities, initiated in early October, aimed to analyze the underlying rock formations. According to Springfield, tests revealed the presence of light crude oil, natural gas, and gas condensates in two geological formations: Cenomanian and Turonian. Post-drilling test results indicate a daily production potential of 4,500 barrels of oil and approximately 12,000 barrels of oil equivalent from gas and condensates.

A Historic Milestone for Springfield

This success positions Springfield as the first independent Ghanaian company to achieve a deepwater discovery. The company is now poised to accelerate the development of the Afina project, estimated to hold 1.5 billion barrels of crude oil. However, this project has been delayed by legal disputes over the unitization of the fields with operators Eni and Vitol.

Kevin Okyere, Springfield’s CEO, stated that these discoveries reinforce the goal of countering the anticipated decline in national oil production. This issue was recently highlighted by Steve Manteaw, co-chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), who warned of potential production interruptions within the next two decades.

An Uncertain Future

While promising, this advancement could reignite legal and technical debates around the unitization of reserves. Eni, a major stakeholder, recently asserted that Springfield must further deepen its analyses to fully assess the reserve’s capacities. The court has also ruled in favor of delaying discussions, deeming the integration of the reserves among the three stakeholders premature.

Nevertheless, the potential revealed by Afina-1x could influence these negotiations and expedite the development process. Springfield, buoyed by these results, could also attract new investors to Ghana’s oil sector, which is seeking greater stability.

Register free of charge for uninterrupted access.

Publicite

Latest news

Ecuador demands a $1.5bn deposit for the development of its largest oil field
Maduro threatens to halt oil exploration in Essequibo, a disputed area with Guyana
Getlink’s net profit drops by 5% in 2024, impacted by competition and ElecLink suspension
The United Kingdom considers a new tax system to replace the oil superprofits tax
Alaska pipeline project could meet Asian demand

Recently published in

Ecuador demands a $1.5bn deposit for the development of its largest oil field

Ecuadorian president Daniel Noboa has threatened not to sign the development contract for the Sacha oil field unless a $1.5bn deposit is paid within six days by the Sino-Canadian consortium.
Maduro threatens to halt oil exploration in Essequibo, a disputed area with Guyana
Venezuelan President Nicolas Maduro has warned Guyana and ExxonMobil against any oil exploration in the contested Essequibo region. He stated that Venezuela would take "all necessary measures" to stop these activities.
en_1140290949540-5
Maduro threatens to halt oil exploration in Essequibo, a disputed area with Guyana
Venezuelan President Nicolas Maduro has warned Guyana and ExxonMobil against any oil exploration in the contested Essequibo region. He stated that Venezuela would take "all necessary measures" to stop these activities.
en_1140290949540-5
Petro-Victory and Blue Oak acquire Capixaba Energia to strengthen their presence in Brazil
Petro-Victory Energy Corp. and Blue Oak Investments have reached an agreement to acquire Capixaba Energia LTDA, an integrated onshore production company in Brazil, aimed at expanding their presence in the country's oil and gas sector.
en_1140290952540-5
Petro-Victory and Blue Oak acquire Capixaba Energia to strengthen their presence in Brazil
Petro-Victory Energy Corp. and Blue Oak Investments have reached an agreement to acquire Capixaba Energia LTDA, an integrated onshore production company in Brazil, aimed at expanding their presence in the country's oil and gas sector.
en_1140290952540-5
McDermott completes EPCIC project for Shell in the Gulf of Mexico
McDermott successfully completes EPCIC works for Shell Offshore Inc. in the Gulf of Mexico, enabling the start of oil production from the Whale platform.
en_1140290946540-4
McDermott completes EPCIC project for Shell in the Gulf of Mexico
McDermott successfully completes EPCIC works for Shell Offshore Inc. in the Gulf of Mexico, enabling the start of oil production from the Whale platform.
en_1140290946540-4

Arrest of South Sudan’s Oil Minister Amid Rising Political Tensions

South Sudan's Minister of Petroleum, Puot Kang Chol, was arrested on the night of March 4-5, exacerbating tensions between supporters of President Salva Kiir and those of Vice President Riek Machar.
Competition between Dangote and NNPC drives down petrol prices in Nigeria
Increased competition between Dangote’s refinery and NNPC has led to a significant reduction in petrol prices in Nigeria, providing economic relief to consumers.
en_1140290945540-4
Competition between Dangote and NNPC drives down petrol prices in Nigeria
Increased competition between Dangote’s refinery and NNPC has led to a significant reduction in petrol prices in Nigeria, providing economic relief to consumers.
en_1140290945540-4
The United States gives Chevron a one-month deadline to wind down operations in Venezuela
Washington has ordered Chevron to cease its operations in Venezuela by April 3, a decision that could have significant implications for the global oil market, according to analysts.
en_1140290948540-4
The United States gives Chevron a one-month deadline to wind down operations in Venezuela
Washington has ordered Chevron to cease its operations in Venezuela by April 3, a decision that could have significant implications for the global oil market, according to analysts.
en_1140290948540-4
Opec+ announces gradual increase in production, causing oil prices to fall
Opec+ has reaffirmed its plan for a gradual increase in oil production starting from April 2025, a decision that has led to a drop in oil prices, particularly Brent. This strategy marks a shift in the cartel’s approach.
en_1140290943540-5
Opec+ announces gradual increase in production, causing oil prices to fall
Opec+ has reaffirmed its plan for a gradual increase in oil production starting from April 2025, a decision that has led to a drop in oil prices, particularly Brent. This strategy marks a shift in the cartel’s approach.
en_1140290943540-5

Evolution Petroleum acquires non-operated oil and natural gas assets in Texas, New Mexico, and Louisiana

Evolution Petroleum has announced the acquisition of non-operated assets across three US states, representing a net production of 440 barrels of oil equivalent per day, for a purchase price of $9 million.
The United States to impose tariffs on energy imports from Mexico and Canada
The US government has announced a 10% tariff on oil imports from Canada and a 25% tariff on those from Mexico, effective from March 4. This decision will directly affect the refining sector in the United States.
en_1140290943540-4-2
The United States to impose tariffs on energy imports from Mexico and Canada
The US government has announced a 10% tariff on oil imports from Canada and a 25% tariff on those from Mexico, effective from March 4. This decision will directly affect the refining sector in the United States.
en_1140290943540-4-2
Morocco: Predator Oil begins drilling MOU-5 well in Guercif to assess 6 TCF gas potential
Predator Oil continues its work in Guercif, Morocco, with the drilling of the MOU-5 well. The goal is to assess the estimated 6 TCF reserves as part of the national effort to secure gas supply.
en_1140290961540-2
Morocco: Predator Oil begins drilling MOU-5 well in Guercif to assess 6 TCF gas potential
Predator Oil continues its work in Guercif, Morocco, with the drilling of the MOU-5 well. The goal is to assess the estimated 6 TCF reserves as part of the national effort to secure gas supply.
en_1140290961540-2
VAALCO strengthens its presence in Africa with the acquisition of the CI-705 block in Côte d’Ivoire and increased production in Gabon
VAALCO continues its expansion in West Africa with the acquisition of a 70% stake in the offshore CI-705 block in Côte d'Ivoire and an ambitious plan to double its crude production in Gabon by 2026.
en_1140290959540-3
VAALCO strengthens its presence in Africa with the acquisition of the CI-705 block in Côte d’Ivoire and increased production in Gabon
VAALCO continues its expansion in West Africa with the acquisition of a 70% stake in the offshore CI-705 block in Côte d'Ivoire and an ambitious plan to double its crude production in Gabon by 2026.
en_1140290959540-3

Sino-Canadian consortium awarded operation of Ecuador’s largest oil field

Ecuador has granted a concession for its main oil field, Sacha, to a consortium formed by Sinopec and New Stratus Energy. The contract, to be signed in April, aims for a significant production increase within three years.
Aramco announces a 12.39% decrease in profits in 2024
The Saudi oil giant Aramco experienced a significant decline in profits in 2024, attributed to falling oil prices, reduced production, and higher operating costs.
en_1140290949540-3
Aramco announces a 12.39% decrease in profits in 2024
The Saudi oil giant Aramco experienced a significant decline in profits in 2024, attributed to falling oil prices, reduced production, and higher operating costs.
en_1140290949540-3
Opec+ production increases lead to a drop in oil prices
Oil prices dropped this Tuesday after Opec+’s decision to maintain its plan of gradual production increases starting in April, despite calls from the US president to reduce energy prices.
en_1140290950540-3
Opec+ production increases lead to a drop in oil prices
Oil prices dropped this Tuesday after Opec+’s decision to maintain its plan of gradual production increases starting in April, despite calls from the US president to reduce energy prices.
en_1140290950540-3
Chevron continues deepwater oil exploration investments in Nigeria
Despite major withdrawals, Chevron remains committed to deepwater exploration in Nigeria, with expansion projects aimed at boosting its offshore production in the coming years.
en_1140290960540-2
Chevron continues deepwater oil exploration investments in Nigeria
Despite major withdrawals, Chevron remains committed to deepwater exploration in Nigeria, with expansion projects aimed at boosting its offshore production in the coming years.
en_1140290960540-2

End of Chevron’s licence in Venezuela: what consequences for the economy and international relations?

The cancellation of Chevron's operating licence in Venezuela, announced by the Trump administration, could exacerbate the country's economic crisis while redefining its relations with the United States. Experts are considering several scenarios regarding the next developments.
Pemex records a net loss of $30.3bn in 2024
Mexican state-owned oil company Pemex has reported a net loss of $30.3bn in 2024, following a profit in 2023, due to a decline in sales and an increase in operating costs.
en_1140290945540
Pemex records a net loss of $30.3bn in 2024
Mexican state-owned oil company Pemex has reported a net loss of $30.3bn in 2024, following a profit in 2023, due to a decline in sales and an increase in operating costs.
en_1140290945540
New discoveries at the Mopane field in Namibia bolster the country’s oil ambitions
Namibia has announced new discoveries at the Mopane oil field offshore. This development could accelerate the country's ambitions to become a crude oil producer by 2029.
en_1140290952540-18
New discoveries at the Mopane field in Namibia bolster the country’s oil ambitions
Namibia has announced new discoveries at the Mopane oil field offshore. This development could accelerate the country's ambitions to become a crude oil producer by 2029.
en_1140290952540-18
European oil majors slow down their energy transition
Several major European oil companies, including BP, are adjusting their climate strategies, reducing investments in renewable energy to focus on increasing oil and gas production in order to improve their profitability.
en_1140290954540-18
European oil majors slow down their energy transition
Several major European oil companies, including BP, are adjusting their climate strategies, reducing investments in renewable energy to focus on increasing oil and gas production in order to improve their profitability.
en_1140290954540-18

BP revises its strategy, market expects a return to hydrocarbons

British oil giant BP will present a strategic revision on Wednesday, marked by a shift back to fossil fuels and a reduction in renewable energy investments, following a sharp decline in net profit last year.
Niger exports over 14 million barrels of oil via Benin
Niger has shipped more than 14 million barrels of crude oil through Benin despite diplomatic tensions. The China National Petroleum Corporation manages extraction and holds a significant share of the exported volumes.
en_1140290948540-16
Niger exports over 14 million barrels of oil via Benin
Niger has shipped more than 14 million barrels of crude oil through Benin despite diplomatic tensions. The China National Petroleum Corporation manages extraction and holds a significant share of the exported volumes.
en_1140290948540-16
Strengthening offshore oil regulations in Brazil: challenges for the industry
Brazil, one of the world's leading oil producers, is tightening regulations on offshore exploration and production, impacting the industry and investments. The measures aim to enhance safety and limit environmental impacts.
en_1140290952540-16
Strengthening offshore oil regulations in Brazil: challenges for the industry
Brazil, one of the world's leading oil producers, is tightening regulations on offshore exploration and production, impacting the industry and investments. The measures aim to enhance safety and limit environmental impacts.
en_1140290952540-16
Algeria: new auction of oil and gas blocks scheduled for October 2025
Algeria is preparing a new call for tenders for the allocation of oil and gas blocks, scheduled for October 2025. This programme aims to attract international investments and strengthen national hydrocarbon production in a context of strong energy demand.
en_1140290954540-16
Algeria: new auction of oil and gas blocks scheduled for October 2025
Algeria is preparing a new call for tenders for the allocation of oil and gas blocks, scheduled for October 2025. This programme aims to attract international investments and strengthen national hydrocarbon production in a context of strong energy demand.
en_1140290954540-16

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS