Springfield discovers commercial oil in Afina well, boosting Ghana’s energy sector amidst declining production and revenue concerns.
Ghana’s Oil and Gas Sector is set for a major boost as Springfield Exploration and Production has made significant discoveries after testing its Afina oil well in deep waters.
The groundbreaking achievement has confirmed Springfield’s place in history as the first independent African and Ghanaian exploration and production company to operate in deep waters and discover crude in commercial quantities.
The milestone was accomplished by Springfield in collaboration with Ghana National Petroleum Corporation (GNPC) and GNPC Explorco.
This development was announced through a statement by Springfield that it has completed what it describes as “appraisal well test activity of the Afina discovery by a re-entry of the well.”
Springfield conducted the appraisal in the Ghanaian waters which targeted two key reservoirs and obtained impressive results.
The first reservoir, found in Cenomanian sandstone contained crude oil which showed a flow rate of up to 4,500 barrels of oil per day. The company said this reservoir of crude oil confirms a good potential for productivity and commercial development.
The second reservoir, it was stated, revealed a gas and condensate with a potential flow of up to 12,00 barrels per day adding to the overall value of the Afina field.
Meanwhile, the Chief Executive Officer (CEO) of Springfield, Kevin Okyere, is optimistic that there is potential for better and improved production in the future.
He explained to Brand Focus Africa that with the current well being vertical, he emphasized that horizontal drilling in the future is likely to increase the production capacities of the wells.
This development comes at a time when the Public Interest and Accountability Committee (PIAC) has raised concerns about the country’s oil production which has been on a declining trend for some time now, posing a threat to the sustainability of the industry.
This Committee in its latest semi-annual report revealed that the country has been experiencing an annual average of 9.2% in crude production since 2020. This threatened the country’s oil revenue while putting at risk some budget lines that depend on oil revenue such as Free SHS, Agenda 111, etc.
With this discovery of crude in commercial quantities, the country’s oil and gas is set for a significant boost as production, revenues, employment, and investment are all set to improve.
In addition, Springfield’s success as an indigenous company demonstrates Africa’s ability to lead in resource exploration and management without reliance on foreign operators.
Springfield said it is already exploring ways to maximize production rates by implementing advanced drilling techniques which raises hopes for further exploration in neighbouring oil blocks, promising even greater economic returns.
“We are extremely happy with the results of the appraisal program which has further confirmed our understanding of our geological, geophysical, and reservoir models and demonstrated our operational capacity. Afina-1x is a vertical well, we are confident that a horizontal well or other well completion options that maximize reservoir exposure in the fields would deliver much higher production rates,” the CEO of Springfield has indicated.
He added, “This provides an incredible platform for reaffirming commercial development options for the Cenomanian and Turonian reservoirs.”
