Ghana discovers over 1.2 billion barrels of oil in deepwater

Oil GNPC Aker Energy

An independent Ghanaian energy firm, Springfield Exploration and Production Limited (SEP), has made a new discovery of more than 1.2 billion barrels of oil in its deepwater drilling off the coast in the Western region.

An official announcement is expected to be made in the coming days, authorities have said.

SEP began exploration in October in the West Cape Three Points Block 2.

An elated Springfield’s Chief Executive Officer, Mr. Kevin Okyere, described the discovery as “historic achievement” in a Financial Times report.

According to him, the feat puts to rest doubts people had about his company. SEP has one of the world’s largest seismic vessel in Ghana which is being used to undertake research.

Springfield had drilled two wells in the past 40 days and made discoveries in both, according to Citinewsroom. According to the company, out of the 1.2bn in proven reserves, 30-35 percent would be recoverable in addition to commercially viable quantities of gas.

Source: Daily Mail GH

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