Audio By Carbonatix
Government has directed Eni SpA and Springfield E&P to begin talks to combine their adjacent oil and gas fields, according to a letter seen by Reuters.
The April 9 letter from Energy Minister John-Peter Amewu to the two companies says seismic data indicates that Eni’s Sankofa offshore field, which entered production in 2017, and Springfield’s recently discovered Afina field have “identical reservoir and fluid properties”.
It instructs the companies to begin within 30 days the process leading to the unitization, or joint operation, of the two fields in order to ensure efficient production and gives them 120 days to provide the ministry a draft agreement.
Spokespeople for Eni and Springfield confirmed they received the letter but declined further comment.
Amewu’s letter says Eni had previously argued it was premature to be talking about unitization since Springfield had not yet appraised and tested its discovery, but that the ministry rejected that argument.
Sankofa is part of Eni’s Offshore Cape Three Points project off Ghana’s Atlantic Coast, which it says has reserves of about 40 billion cubic meters of unassociated gas and 500 million barrels of oil.
Springfield, a wholly owned Ghanaian company, said in December that it had discovered 1.5 billion barrels of oil and 0.7 trillion cubic feet of gas at its Afina field.
Latest Stories
-
New College of Education in Tuobodom to end teacher training struggles in Bono East – Regional Minister
4 minutes -
Education Ministry proposes 2% GETFund emergency fund for crisis-affected schools
4 minutes -
BoG to intensify public education on authenticating new Heritage Series banknotes
15 minutes -
NAIMOS arrests 12 illegal miners in Osino; destroy mining equipment
22 minutes -
Ghana to retain cotton banknotes under new Heritage Series – BoG
24 minutes -
Lebanese Community awards scholarships to eight Ghana School of Law students
26 minutes -
NPP’s path to victory lies in unity – Boakye Antwi
31 minutes -
Divers recover a total of 52 bodies from capsized ferry in Indonesia after a dayslong search
41 minutes -
UNESCO urges Ghanaian journalists to mine archives for richer reporting
41 minutes -
Educational accountants hold workshop on financial discipline to avert PAC sanctions
46 minutes -
Devtraco Group launches Lotus residential development
53 minutes -
3rd JoyNews-Republic Bank Habitat Clinic kicks off at Junction Mall, Nungua
53 minutes -
KMA cracks down on unapproved transport fares; engages 24 unions ahead of Christmas
56 minutes -
The rise of fast food in Ghana
1 hour -
No new denominations beyond GH¢200 under Heritage Series – BoG
1 hour