Ghana wants to take over Springfield oil block as a state-owned company, says ministry

Ghana has begun talks to acquire Springfield Exploration's share in a block offshore that holds an estimated 1,5 billion barrels worth of oil. The energy ministry announced this as Ghana seeks to boost its economy by reversing the decline in production.

The ministry announced on Wednesday that it would pursue a state-led acquisition of Springfield's interests in the West Cape Three Points Block 2 via state oil company GNPC.

The potential takeover aims to unlock the long-term value of the block and protect Ghana's oil output, the ministry stated.

Springfield has not responded to the request for comment.

Ghana's crude output dropped 25.9% in the first half of 2025 compared to the same period last year, due to lower production levels at major fields.

Springfield, a local operator, discovered the Afina block within a field in 2019, but has not yet put it into production.

The project has been delayed in part by a longstanding dispute between the Italian energy company ENI and Ghanaian officials over a directive from 2020 to link ENI's Sankofa adjacent field with Afina.

In July 2024, an international court ruled that the directive was invalid on legal grounds. This led to the government dropping it in January 2025.

Springfield has confirmed Afina's viability as a commercial company after an appraisal drilling last year. However, its production timeline is still uncertain.

Undiscovered oil reserves in Ghana's Tano Basin are estimated at over 3 billion barrels.

It said that the government had hired independent consultants to perform technical assessments and evaluate Springfield's stake, before possibly repositioning it through partnerships with experienced and technically sound deepwater operators. (Reporting by Emmanule Bruce Editing by Bate Felix, Alexandra Hudson)

(source: Reuters)