Ghana has initiated talks to take over Springfield Exploration's stake in an offshore block holding an estimated 1.5 billion barrels of oil, the energy ministry said…
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Ghana has initiated talks to take over Springfield Exploration's stake in an offshore block holding an estimated 1.5 billion barrels of oil, the energy ministry said, as the country seeks to reverse falling output to bolster its economic recovery.
The ministry said on Wednesday it was pursuing a state-led takeover of Springfield's interest in the West Cape Three Points Block 2 through state oil company GNPC.
"The potential takeover is geared toward unlocking the block's long-term economic value and safeguarding Ghana's oil production," the ministry said.
Springfield did not respond to Reuters' request for comments.
Ghana's crude oil output fell 25.9% year-on-year in the first six months of 2025, the lowest half-year level since 2016, due to lower production at major fields.
Local operator Springfield discovered the Afina field within the block in 2019 but has yet to move it into production.
The development has been delayed, in part, by a long-standing dispute with Italian energy company ENI over a 2020 Ghanaian directive to join Afina with ENI's adjacent Sankofa field.
The directive was overturned by
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