Springfield Oil to commence drilling on WCTP Block 2 from October

Springfield Oil to commence drilling on WCTP Block 2 from October

Indigenous oil firm Springfield is expected to commence drilling on its deepwater West Cape Three Points (WCTP) Block of Ghana from next month.

This happened after the drillship “Stena Forth”, operated by Stena Unicom Offshore Service berth on Ghana’s waters in the first week of October.

The Drillship is currently on its way to the country according to officials of Springfield.

Chief Executive Officer of the Springfield Group, Kevin Okyere says he is optimistic that they would be able to commence drilling as projected, adding that “this would indeed see us become the first independent, group African Energy company to drill in deep water.”

Officials of Springfield earlier this year disclosed to JoyBusiness that they had contracted charter drillship, Stena Forth for two-well drilling in the country on its deepwater West Cape Three Points, block 2 off Ghana.

The Stena Forth is one of the world’s most sophisticated drillships and capable of operating in up to 10,000 feet of water and drilling to a depth of 35,000 feet.

In April 2017, Springfield – which is a wholly-owned Ghanaian company, contracted the world’s largest seismic vessel, the Ramform Titan owned by Petroleum Geo-Services (PGS) to undertake a 3-D seismic data acquisition on its Block.

About Springfield Group

Springfield commenced operations in Ghana in 2008 and became one of the pioneers, key players in Ghana’s downstream sector. It obtained a license in 2010 as a Bulk Distribution Company (BDC) from Ghana’s National Petroleum Authority (NPA) for the procurement, sale and distribution of petroleum products to Oil Marketing Companies (OMC’s), refineries as well as neighbouring land-locked countries across West Africa.

Springfield was also the first independent Ghanaian company to lift the Government of Ghana’s crude oil entitlement from the TEN field in 2016 and 2017.

The Group ventured into Nigeria in 2011 where it became active in Nigeria’s downstream sector by exporting crude oil and also handling the exports of new productions and complex logistics from gas to liquid processing. These products were placed directly in Asia and South American countries.

Springfield has interacted with and formed strategic alliances with various oil majors and participants in the downstream sector including BP, Chevron, Total, SK Energy, Braskem, Vitol and, Trafigura.

In the area of oilfield services, Springfield acquired a permit to provide services to the upstream petroleum industry in Ghana in 2011.

Springfield, through one of its subsidiaries, entered into a joint venture (JV) agreement with Aker Solutions of Norway, one of the largest companies that provide subsea equipment and services to enable the production of oil wells. The JV Company operates in Ghana as Aker Solutions Ghana Limited.

Springfield also provides a bouquet of support services in the oil and gas industry with tailored solutions to clients including Project Management, Equipment and Materials Supply Services, Marine Contracting Services, Major Construction and Consultancy Services.

The operator of WCTP Block 2

Springfield ventured into the upstream sector to secure private Ghanaian involvement in upstream exploration and production opportunities in Ghana and the West African sub-region. In 2016, the Government of Ghana awarded Springfield Exploration and Production Limited its pioneer asset- West Cape Three Points Block 2 Offshore Ghana.

Springfield is currently the Operator and Majority Interest Holder (84%) of West Cape Three Points Block 2 with the Ghana National Petroleum Company and its exploration company, EXPLORCO, holding the remaining interest.

Springfield begins its first drilling campaign in 2019 and is on course to be the first independent Ghanaian operating company to drill in deep-water and produce oil and gas in commercial quantities.



Source: myjoyonline.com



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