The Government of Ghana has announced significant steps toward a potential state-led takeover of Springfield Exploration and Production Limited’
The Government of Ghana has announced significant steps toward a potential state-led takeover of Springfield Exploration and Production Limited’s (SEP) interest in the West Cape Three Points Block 2 (WCTP2), citing the need to safeguard national petroleum assets and prevent them from remaining stranded.
In a press release issued on Tuesday, November 19, 2025, the Ministry of Energy said the Ghana National Petroleum Corporation (GNPC) and its upstream subsidiary, GNPC Explorco, are currently engaged in constructive discussions with Springfield on the future of the block.
According to the Ministry, the intervention forms part of a broader government strategy to optimise upstream output, protect national resources, and address longstanding commercial and operational bottlenecks affecting the development of key petroleum assets.
Independent Advisors Engaged to Guide Process
To ensure what it called a “rigorous, transparent, and professionally grounded process,” the Ministry revealed that the Petroleum Commission (PC) and GNPC are jointly securing the services of an independent Technical Consultant and Transactional Advisor.
Their mandate includes:
- Comprehensive technical assessment of the WCTP2 block
- Full cost audit and verification of past expenditures
- Financial due diligence
- Independent valuation of SEP’s interest
The Ministry said these steps are intended to ensure that all decisions taken are “evidence-based, commercially prudent, and in the best interest of the Republic of Ghana.”
Why the State Is Intervening
Government argues that the intervention is necessary given Ghana’s declining crude oil production in recent years and the uncertainties of the global energy transition. Advancing the development of the WCTP2 resource base, it said, is essential to:
- Prevent further delays to field development
- Unlock the block’s long-term economic value
- Sustain upstream activity and associated national revenues
- Enhance Ghana’s overall energy security
The Ministry noted that repositioning the asset for accelerated development could include new partnerships with technically strong and experienced deep-water operators willing to collaborate with the State.
Commitment to Local Content
Government also reaffirmed its dedication to expanding the participation of indigenous Ghanaian companies in the upstream sector. This includes technical capacity building, skills transfer, and the safeguarding of Ghana’s local content framework.
“The intervention is aligned with national policy objectives of building a competitive, resilient, and locally empowered oil and gas sector,” the statement noted.
Ongoing Investigations Not Affected
The Ministry stressed that the process is being undertaken without prejudice to any ongoing investigations involving SEP or its affiliates, and that due process and institutional independence remain fully respected.
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