Ghana in Advanced Talks to Take Over Springfield’s WCTP2 Oil Block
The Government of Ghana has confirmed that it is in advanced discussions with Springfield Exploration and Production Limited (SEP) over a potential state-led takeover of the company’s interest in the West Cape Three Points Block 2 (WCTP2).
In a statement issued on Wednesday, 19 November 2025, the Ministry of Energy described the move as a strategic national intervention aimed at safeguarding petroleum assets, boosting declining oil production, and preventing resources from being stranded due to prolonged commercial and operational challenges.
According to the ministry, the engagement is being undertaken through the Ghana National Petroleum Corporation (GNPC) and its upstream subsidiary, GNPC Explorco.
To ensure a transparent and technically robust process, the Petroleum Commission and GNPC are jointly procuring the services of a Technical Consultant and an independent Transactional Advisor.
Their responsibilities will cover:
- A comprehensive technical assessment of the WCTP2 block
- A full cost audit and verification of past expenditures
- Financial due diligence on the asset
- Independent valuation of SEP’s interest
Government says these steps are intended to ensure that all decisions taken are evidence-driven, commercially prudent, and aligned with the national interest.
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