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

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

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

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.

Khartoum et Juba annoncent un mécanisme commun pour protéger les oléoducs transfrontaliers, sans clarifier le rôle des forces armées non étatiques qui contrôlent une partie des installations.
The Namibian government signed an agreement with McDermott to strengthen local skills in offshore engineering and operations, aiming to increase oil sector local content to 15% by 2030.
Nigeria deploys a 2.2 million-barrel floating storage unit funded by public investment, strengthening sovereignty over oil exports and reducing losses from theft and infrastructure failures.
Despite open statements of dialogue, the federal government maintains an ambiguous regulatory framework that hinders interprovincial oil projects, leaving the industry in doubt.
Canada’s Sintana Energy acquires Challenger Energy in a $61mn all-share deal, targeting offshore exploration in Namibia and Uruguay. The move highlights growing consolidation among independent oil exploration firms.
The 120,000-barrel-per-day catalytic cracking unit at the Beaumont site resumed operations after an unexpected shutdown caused by a technical incident earlier in the week.
An agreement was reached between Khartoum and Juba to protect key oil installations, as ongoing armed conflict continues to threaten crude flows vital to both economies.
Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
Import quotas exhaustion and falling demand push Chinese independent refineries to sharply reduce Iranian crude volumes, affecting supply levels and putting downward pressure on prices.
Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.
US-based Chevron appoints Kevin McLachlan, a veteran of TotalEnergies, as its global head of exploration, in a strategic move targeting Nigeria, Angola and Namibia.
Lycos Energy finalises the sale of its Alberta assets for $60mn, planning an immediate $47.9mn cash distribution to shareholders and the launch of a share buyback programme.
Russian oil output moved closer to its OPEC+ allocation in September, with a steady rise confirmed by Deputy Prime Minister Alexander Novak.
Fuel shortages now affect Bamako, struck in turn by a jihadist blockade targeting petroleum flows from Ivorian and Senegalese ports, severely disrupting national logistics.
McDermott has signed a memorandum of understanding with PETROFUND to launch technical training programmes aimed at strengthening local skills in Namibia’s oil and gas sector.
The example of OML 17 highlights the success of an African-led oil production model based on local accountability, strengthening Nigeria’s position in public energy investment.
ExxonMobil has signed a memorandum of understanding with the Iraqi government to develop the Majnoon oil field, marking its return to the country after a two-year absence.
Crude prices rose following the decision by the Organization of the Petroleum Exporting Countries and its allies to increase production only marginally in November, despite ongoing signs of oversupply.
Cenovus Energy modifies terms of its acquisition of MEG Energy by increasing the offer value and adjusting the cash-share split, while reporting record third-quarter results.
Hungarian oil group MOL and Croatian operator JANAF are negotiating an extension of their crude transport agreement as the region seeks to reduce reliance on Russian oil.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.