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Ghana Indigenous company Springfield Group Drills First Well

Kevin Okyere, CEO of Springfield Group

Springfield Exploration and Production Limited (SEP), a subsidiary of Springfield Group, one of Ghana’s largest indigenous energy companies, has drilled its first new wells off the Ghanaian coast. Springfield becomes the
first indigenous, independent energy company in Africa’s history to drill in deep water and places Springfield amongst known exploration companies, mostly foreign owned, who are currently either in production or exploration phase of operation in a Deepwater area.
According to Kevin Okyere, the 39-year-old Ghanaian founder of Springfield Group, the project marks a significant breakthrough for the country’s nascent energy industry. “This milestone has been possible because we have not given up in the face of challenges. It is an achievement
not to ourselves alone as Springfield, but to all our Partners, Contractors, the government and people of Ghana and Africa as a continent,” Okyere said in a statement. SEP is utilizing the Stena Forth, one of the world’s most
sophisticated drillships, for the drilling campaign which is expected to run over a three-month period on the block believed to be highly prospective. Springfield E&P operates the block with an 84% interest. Ghana National Petroleum Co. holds the rest. Petroleum Geo-Services shot a 3D seismic survey over the block, which Springfield was awarded in 2016. After targeting Afina-1x, the rig will move to drill another well, Oak-1x is within an already discovered field in the Deep Water Tano Area. Springfield, which was founded by Kevin Okyere in 2008, “This milestone has been possible because we have not given up in the face of challenges. It is an achievement not to ourselves alone as Springfield, but to all our Partners, Contractors, the government and people of Ghana and Africa as a continent,” Springfield E&P is a subsidiary of Springfield Group, an oil product distributor and oil services provider in Ghana. Two discoveries totaling 1.2 billion barrels of crude were made and the company anticipates them to be bigger than Ghana’s Jubilee field. Of the 1.2bn of proven reserves, 30% to 35% are recoverable. Commercially viable quantities of gas have also been discovered. “We are the first African company to drill in deep water and
to find oil,” says Kevin Okyere, Springfield’s Chief Executive, adding that the discovery ties into the group’s vision of becoming a leading African upstream company with a global focus. Ghana crude oil total output is expected to rise by expects 250,000 barrels day by 2020 via recent Springfield’s discoveries, whichwould make Ghana the fourth-largest producer in sub-Saharan Africa.

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