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George Etomi & Partners felicitates with its esteemed clients, the Springfield Group, on the commencement of field operations on West Cape Three Points Block 2 (WCTP2) offshore Ghana through Springfield’s Exploration and Production subsidiary. The Springfield Group is the first wholly owned Ghanaian operator in upstream oil and gas operations in Ghana.
Springfield welcomed the largest and currently the most powerful survey vessel in the world, PGS 3D Ramform Titan at the Takoradi Habour on Saturday, February 11, 2017 to acquire seismic data on WCTP2. The data gathered from the survey would enable the company to undertake its full-scale drilling and development of wells that could eventually lead to additional production of oil and gas in Ghana.
The principal Partner of George Etomi & Partners, Mr. George Etomi, was present at the event. All invited guests took a tour of the Vessel when it berthed at the Sekondi Naval Base. Briefing a section of the media and officials from Ghana’s Ministry of Energy and other regulatory institutions after the tour, the Group Chief Operating Officer, Mrs. Geena Malkani-Punjabi said the day was significant to Springfield and to some extent Ghana, ‘because we are seeing our long-held dream of operating upstream partially come to fruition’.
Mrs. Malkani-Punjabi added that‘ This may be the beginning, but it certainly will blaze the trail and sow the seeds for Ghana to begin to realize her dream of becoming an active player in the industry through its own national oil company, GNPC’. She stated further that the company recognized that the upstream industry had its own peculiar challenges, but was resolved to seek help when it had to, from its key local and foreign partners and collaborators who were no minnows and had been bulwarks in Springfield’s downstream successes.
Mrs. Malkani-Punjabi thanked the Ghana Government and the Ministry of Energy, the Petroleum Commission, GNPC and the PGS Team for the immense support and confidence reposed in the Springfield Group up until now. She reiterated that she had no doubts that Springfield would succeed in upstream oil and gas operations just as it had in many other areas that were considered too much of a challenge for oil companies.
Springfield E&P holds 84% interest in West Cape Three Points Block 2 with the minority interest held by the Ghana’s national oil company- GNPC and its subsidiary GNPC Explorco. In December 2015, George Etomi & Partners advised Springfield in its negotiations with the Ghana Government on the Petroleum Agreement for WCTP2. Springfield’s Petroleum Agreement was ratified by Ghana’s parliament in March 2016.
The Springfield Group is involved in acquisition, exploration and production of its upstream assets, trade and transportation of hydrocarbons, infrastructure and storage facilities (tank farm, pipelines, re-gasification plants etc.) The Group is multi- faceted and integrated operating across the entire chain of the oil and gas industry in West Africa.