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Ghanaian Tycoon Kevin Okyere's Springfield Group Signs Rig Deal, To Commence Drilling Campaign


Springfield Group

Springfield Exploration and Production Limited (SEP), an oil exploration company owned by Ghanaian tycoon Kevin Okyere, is about to become the first indigenous-owned Ghanaian company to drill in deep water.

The company recently signed a contract with Stena Unicon Offshore Services Ghana Ltd (Stena Unicon), the Ghanaian subsidiary of Stena Drilling, one of the world's leading independent drilling operators. The contract is for the Stena Forth Mobile Offshore Drilling Unit (MODU), which Springfield will use at the end of September for the West Cape Three Points Block 2 (WCTP Block 2) drilling campaign.

According to a press statement issued by Springfield Group, the campaign will first target the Oak-1x well on trend with the Beech discovery, made on the Deep Water Tano Cape Three Points block (DWT/CTP) to the south-west of WCTP Block 2. The next well, Afina-1x, will test the Cenomanian oil potential on a similar play fairway to discovered resources to the east of WCTP Block 2. Springfield continues to work to firm up further drilling locations on the highly prospective WCTP Block 2.

The Stena Forth, one of the world’s most sophisticated drillships, is capable of operating in up to 10,000 feet of water and drilling to a depth of 35,000 feet. It is currently under contract with Tullow Oil Plc in Guyana and is expected to set sail to Ghana immediately upon completion of its task.

Founded in 2008 by Ghanaian entrepreneur Kevin Okyere, 39, Springfield Group is a $1 billion (annual revenues) multi- faceted Ghanaian energy behemoth with interests spanning trading and transporting hydrocarbons, terminalling and storage, gas stations, and recently, oil exploration. The company commenced its operations in Ghana’s downstream sector and went on to obtain 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 neighboring land-locked countries across West Africa. In 2016, the Government of Ghana awarded Springfield Exploration and Production Limited its pioneer asset- West Cape Three Points Block 2 Offshore Ghana where it is currently the Operator and Majority Interest Holder (84%) 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.

The block, WCTP2, is located in an enviable position, with Tullow Oil/ Kosmos Energy’s prolific Jubilee field immediately to the west, Hess’ Greater Pecan project to the south and Eni’s Sankofa-Gye Nyame field to the east. The previous operator of the block, Kosmos Energy, drilled five exploration wells in WCTP2 including the Odum and Banda oil discoveries which are substantial. Based on vintage seismic 3D data inherited from Kosmos Energy, Springfield has been able to identify a number of large Campanian-age leads and prospects on the block.

 

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Springfield Group

Springfield Exploration and Production Limited (SEP), an oil exploration company owned by Ghanaian tycoon Kevin Okyere, is about to become the first indigenous-owned Ghanaian company to drill in deep water.

The company recently signed a contract with Stena Unicon Offshore Services Ghana Ltd (Stena Unicon), the Ghanaian subsidiary of Stena Drilling, one of the world's leading independent drilling operators. The contract is for the Stena Forth Mobile Offshore Drilling Unit (MODU), which Springfield will use at the end of September for the West Cape Three Points Block 2 (WCTP Block 2) drilling campaign.

According to a press statement issued by Springfield Group, the campaign will first target the Oak-1x well on trend with the Beech discovery, made on the Deep Water Tano Cape Three Points block (DWT/CTP) to the south-west of WCTP Block 2. The next well, Afina-1x, will test the Cenomanian oil potential on a similar play fairway to discovered resources to the east of WCTP Block 2. Springfield continues to work to firm up further drilling locations on the highly prospective WCTP Block 2.

The Stena Forth, one of the world’s most sophisticated drillships, is capable of operating in up to 10,000 feet of water and drilling to a depth of 35,000 feet. It is currently under contract with Tullow Oil Plc in Guyana and is expected to set sail to Ghana immediately upon completion of its task.

Founded in 2008 by Ghanaian entrepreneur Kevin Okyere, 39, Springfield Group is a $1 billion (annual revenues) multi- faceted Ghanaian energy behemoth with interests spanning trading and transporting hydrocarbons, terminalling and storage, gas stations, and recently, oil exploration. The company commenced its operations in Ghana’s downstream sector and went on to obtain 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 neighboring land-locked countries across West Africa. In 2016, the Government of Ghana awarded Springfield Exploration and Production Limited its pioneer asset- West Cape Three Points Block 2 Offshore Ghana where it is currently the Operator and Majority Interest Holder (84%) 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.

The block, WCTP2, is located in an enviable position, with Tullow Oil/ Kosmos Energy’s prolific Jubilee field immediately to the west, Hess’ Greater Pecan project to the south and Eni’s Sankofa-Gye Nyame field to the east. The previous operator of the block, Kosmos Energy, drilled five exploration wells in WCTP2 including the Odum and Banda oil discoveries which are substantial. Based on vintage seismic 3D data inherited from Kosmos Energy, Springfield has been able to identify a number of large Campanian-age leads and prospects on the block.

 


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