The Technical Advisor and Second Gas Processing Plant Focal Point at the Ministry of Energy and Green Transition, Dr. Yussif Sulemana, has urged Civil Society Organisations (CSOs) to allow the government the space to undertake an independent and thorough valuation in its ongoing engagement with Springfield Exploration and Production Limited.
His remarks come amid growing criticism from the Africa Centre for Energy Policy (ACEP) over government’s reported intention to acquire Springfield’s interest in the West Cape Three Points Block 2 (WCTP2) oil block. ACEP has described the move as a costly misstep that could expose the state to financial risk and set a troubling precedent in Ghana’s petroleum sector.
In an interview with the state-owned Graphic, ACEP’s Executive Director, Benjamin Boakye, argued that any state-funded bailout or acquisition would undermine fundamental petroleum sector principles. According to him, the oil block belongs to the state, and private contractors are expected to bear the risks associated with exploration.
“When contractors fail, the state’s responsibility is to reclaim its asset, not absorb the losses of private companies,” Boakye stated.
ACEP also raised concerns about reported discussions between the Ghana National Petroleum Corporation (GNPC), its subsidiary Explorco, and Springfield, warning that both institutions have credibility challenges when it comes to managing such transactions. Boakye further noted that the Petroleum Commission has questioned Springfield’s appraisal claims, stating that the company has failed to provide complete raw data needed for a conclusive assessment.
However, speaking on News Central on TV3 on Monday, December 1, Dr. Sulemana stressed that the government remains cautious and will abandon the engagement if it is determined not to be in Ghana’s best interest.
He explained that the field has been partially derisked and that if the resource volumes claimed are independently verified, the asset could significantly benefit the country.
“This is not a rushed acquisition,” Dr. Sulemana said. “For the first time, government has committed to engaging an independent expert with a proven track record to assess all available data—technically and commercially. If further work, including drilling, is required to establish the true value of the field, that will be done.”
He added that government will rely on independently verified data rather than contested figures provided by Springfield, noting that if the findings prove unconvincing, authorities will simply walk away from the deal.
Dr. Sulemana maintained that if the field is proven commercially viable, the benefits to Ghana could be substantial.
“Preliminary analysis suggests oil in place of over 1.5 billion barrels and gas volumes exceeding one trillion cubic feet. These figures will be rigorously tested, but if confirmed, they could significantly change Ghana’s economic fortunes,” he said.