By Asamoah George Opoku
The Ministry of Energy and Green Transition has indicated a potential state-led takeover of Springfield Exploration and Production Limited’s (SEP) interest in the West Cape Three Points Block 2 (WCTP2), highlighting the strategic importance of safeguarding national petroleum assets.
In a press release issued today and signed by Richmond Rockson, Esq., Spokesperson and Head of Communication for the Ministry, the government said it is “currently engaged in constructive discussions with Springfield Exploration and Production Limited on a potential State-led takeover of SEP’s interest in the West Cape Three Points Block 2.”
The release explained that this initiative forms part of a broader strategy to safeguard national petroleum assets, optimize upstream output, and ensure that valuable resources do not remain stranded due to prolonged commercial or operational bottlenecks.
To ensure a rigorous and transparent process, the Petroleum Commission and the Ghana National Petroleum Corporation (GNPC) are jointly procuring independent technical and transactional advisors. According to the press release, these advisors will carry out a comprehensive technical assessment of the WCTP2 block, conduct a full cost audit and verification of past expenditures, perform financial due diligence on the asset, and provide an independent valuation to determine the fair and equitable value of SEP’s interest.
The government emphasized that this approach ensures all decisions are evidence-based, commercially prudent, and in the best interest of the Republic of Ghana.
The rationale for intervention is grounded in both national production trends and global energy market uncertainties. The press release highlighted that declining crude oil production and delays in field development make timely government action essential to unlock the long-term economic value of WCTP2, sustain upstream activity and associated national revenues, and enhance Ghana’s overall energy security.
The government also indicated its intention to reposition the asset for accelerated development, potentially through partnerships with technically strong and experienced deepwater operators willing to collaborate with the state.
The statement further stressed Ghana’s commitment to local content and indigenous participation, noting that the process aligns with national policy objectives to build a competitive, resilient, and locally empowered oil and gas sector.
The release clarified that the intervention is being carried out without prejudice to any ongoing investigations concerning SEP or its affiliated entities by the appropriate state institutions, ensuring that due process and institutional independence are fully respected.
This potential intervention is rooted in years of technical and legal developments surrounding Springfield’s operations and the Afina-1X deepwater discovery.
Springfield E&P, an indigenous Ghanaian company, was awarded WCTP2 in 2016. In 2019, it drilled Afina-1X, discovering significant light crude and associated gas reserves, marking the block as one of Ghana’s most promising deepwater assets. The field borders ENI Ghana’s Sankofa field, prompting the government in 2020 to issue unitisation directives requiring joint development of overlapping reservoirs.
Springfield contested ENI’s resistance to the directive, leading to legal action and a 2021 Commercial High Court ruling that ordered 30 percent of Sankofa revenues to be held in escrow pending resolution.
In July 2024, an international tribunal in the SCC Arbitration case ENI & Vitol v. Ghana & GNPC concluded that, while unitisation was legitimate in principle, the 2020 directives were procedurally flawed and lacked statutory compliance. Following this, the Ministry of Energy formally withdrew the directives in February 2025, although it clarified that the state retains the power to issue new directives if national interests demand.
