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Springfield Group is the first independent and African-owned company founded in 2008 and headquartered in Accra. It operates within the entire oil and gas value chain; upstream exploration and production, oilfield services, and downstream trading.[1][2]
History
[edit]Springfield began its operations in 2008, to import and distribute refined petroleum products. In 2010, the company was granted a Bulk Distribution Company (BDC) license by the National Petroleum Authority (NPA). This enabled it to procure, sell, and distribute petroleum products to Oil Marketing Companies (OMCs) and refineries.
Between 2008 and 2013, Springfield supplied approximately 12.5% of Ghana's petroleum products and became a major exporter to landlocked neighboring countries, including Mali and Burkina Faso.[3]
In 2011, the group expanded into Nigeria's downstream sector, exporting crude oil and gas condensates to markets in Asia, South America, and Europe. They later partnered with BP, Chevron, Total, SK Energy, Braskem, Vitol, Trafigura, and Glencore.[4][5]
Transition to Upstream
[edit]The Government of Ghana subsequently awarded the company the West Cape Three Points Block 2 (WCTP2), a 673 km² asset in the Tano/Western Basin. Springfield operates WCTP2 with a majority interest, in partnership with the Ghana National Petroleum Corporation (GNPC) and its subsidiary, GNPC Explorco.[6]
The Group completed a 3D seismic survey, leading to the drilling of the Afina-1x well. The campaign resulted in reserves exceeding 1.5 billion barrels of oil and 0.7 trillion cubic feet (tcf) of gas in place.[5]
Controversies
[edit]The controversy involving Springfield Exploration & Production (Springfield E&P) is over a dispute over the unitization of two offshore oil fields in Ghana: Springfield's Afina discovery and Eni and Vitol's adjacent Sankofa field.[7]
Background
[edit]In 2020, Ghana's Ministry of Energy issued directives mandating the unitization of the Afina and Sankofa fields, stating that they were part of a shared reservoir. The government allocated a 54.545% stake to Springfield and 45.455% to Eni and Vitol. This move aimed to optimize resource extraction and ensure equitable benefit distribution.[8][9]
Legal Disputes
[edit]Eni and Vitol contested the directive, arguing that the Afina discovery lacked sufficient appraisal to confirm its commercial viability and that the unitization process did not adhere to legal and industry standards. They initiated legal proceedings in Ghana and international arbitration under the United Nations Commission on International Trade Law (UNCITRAL) rules.[10]
In 2021, a Ghanaian court ordered Eni and Vitol to deposit 30% of revenues from the Sankofa field into an escrow account pending the dispute's resolution. However, in July 2024, an international arbitration tribunal ruled that Ghana's unitization directive breached the Petroleum Agreement, deeming it improperly imposed.[8]
Consequently, in February 2025, the Ghanaian government withdrew the unitization directive, effectively ending the mandate for joint development of the two fields.[11]
References
[edit]- ^ "Ghana's Springfield completes Afina appraisal well, unlocking potential for 12,000 bpd". www.worldoil.com. 2 December 2024. Retrieved 5 May 2025.
- ^ Nsehe, Mfonobong. "Ghanaian Energy Company Springfield Group Spuds First Well". Forbes. Retrieved 5 May 2025.
- ^ Mundi, Jus. "Eni and Vitol v. Ghana and GNPC, Final Award, 8 July 2024". jusmundi.com. Retrieved 5 May 2025.
- ^ GNA (30 September 2024). "Springfield Secures Rig to Appraise Afina Well". Ghana News Agency. Retrieved 5 May 2025.
- ^ a b "Springfield completes Afina Well appraisal; commercial viability confirmed". 28 November 2024. Retrieved 5 May 2025.
- ^ theeditor (18 November 2019). "Ghana's Springfield makes a Discovery in Deepwater - Africa's premier report on the oil, gas and energy landscape". africaoilgasreport.com. Retrieved 5 May 2025.
- ^ Afful, Michael Creg (27 February 2025). "Ghana: End To Springfield E&P-Eni Impasse As Ghana Gov't Withdraws Unitisation Directives". Energy News Africa. Retrieved 5 May 2025.
- ^ a b razak.bawa (26 February 2025). "Mahama withdraws controversial ENI-Springfield unitisation directive". The Herald ghana. Retrieved 5 May 2025.
- ^ "Withdraw unlawful Afina - Sankofa Unitisation Directive - Eni workers, TUC demand - MyJoyOnline". www.myjoyonline.com. Retrieved 5 May 2025.
- ^ "Energy 2024- Judicial Decisions and Court Judgements - Springfield v. Eni and Vitol". Lexology. 22 March 2024. Retrieved 5 May 2025.
- ^ "Ghana voids order forcing Eni to merge offshore oilfield with Afina discovery". worldoil.com. 27 February 2025. Retrieved 5 May 2025.