The Africa Centre for Energy Policy (ACEP) has clarified its concerns regarding the government’s intention to acquire the Springfield oil block, stressing that the issue at stake is not about local content support but about protecting legal and governance principles in Ghana’s petroleum sector.
In a detailed statement, ACEP’s Executive Director, Benjamin Boakye, acknowledged the constructive working relationship the organisation has enjoyed with the Minister of Energy and Green Transition. According to him, policy dialogue under the current minister has been more open, honest and impactful than under any previous administration, with significant reforms recorded in the last ten months.
Boakye also highlighted ACEP’s central role in national energy negotiations, noting that the Minister of Energy and the Minister of Finance entrusted the think tank with leading talks with Independent Power Producers (IPPs). That process, he added, saved Ghana about US$250 million in existing debt and more than US$7 billion over the life of the renegotiated agreements.
Despite these gains, ACEP maintains that the government has no legal basis to assume the losses of a private operator, especially in a venture where the available data remains inconclusive. “No law allows the state to absorb private-sector losses, whether local or foreign,” Boakye stressed, adding that the state must avoid risky commitments based on incomplete or disputed field evaluations.
ACEP’s concerns centre on the role of the Petroleum Commission, the regulator mandated to independently evaluate Springfield’s data. The organisation warns that bypassing the Commission, especially when it has repeatedly indicated that Springfield has not submitted complete raw data, undermines the integrity of Ghana’s regulatory framework.
Boakye expressed worry over the proposal for GNPC and Explorco to lead a new valuation of the field, describing it as problematic given past misjudgments that resulted in financial losses and arbitration setbacks for the state. He noted that the same entities endorsed Springfield’s data less than six months ago, despite contrary technical assessments by the regulator.
“Bringing in new consultants while the Commission has not been given full access to the raw data weakens institutional control,” he said, insisting that the regulator must be allowed to finish its work before any external intervention is considered.
According to ACEP, virtually every independent analysis so far contradicts claims of the field’s commercial viability.
The think tank concludes that the solution is straightforward: grant the Petroleum Commission full access to all required data and allow it to deliver a credible, legally defensible judgment. Any disagreements with that decision, Boakye emphasized, should be resolved through lawful channels, not political shortcuts.
