The Government of Ghana has begun formal engagements with Springfield Exploration and Production Limited (SEPL) as part of a process that could lead to the state assuming control of the company’s interest in the West Cape Three Points Block 2 (WCTP2), in a bid to reverse declining national crude oil output.
According to the Ministry of Energy, the move is part of a broader strategy to protect national petroleum assets and prevent key resources from remaining dormant due to stalled commercial or operational activities.
“With Ghana’s national crude oil production declining over recent years, coupled with uncertainties within the global energy transition, Government considers it urgent to advance the development of the WCTP2 resource base”, the Ministry said in an official statement.
“The intention is to reposition the asset for accelerated development, potentially through partnerships with technically strong and experienced deepwater operators willing to collaborate with the State.”
The decision follows years of stagnation on the block, despite discoveries and exploratory drilling at the Afina field. WCTP2 has remained undeveloped, contributing to concerns about Ghana’s dwindling oil production, which has steadily fallen since 2019.
As part of the takeover preparatory work, the Petroleum Commission and the Ghana National Petroleum Corporation (GNPC) are jointly securing the services of an independent technical consultant and a transactional advisor. Their mandate includes conducting a technical review of the block and arriving at an independent valuation to determine Springfield’s fair interest.
Officials say the broader plan involves securing capable deepwater partners, enhancing local participation, and strengthening national technical expertise within the upstream sector.
The Ministry emphasized that the ongoing process will not interfere with any investigations involving Springfield or its associated entities, stating that all state institutions will continue to operate with full independence.
