Ghana deep-water operator secures $750 million loan facility

Accra-based Springfield Group has secured $750 in finance from Afreximbank to drive forward deep-water investments offshore Ghana, potentially targeting exploration prospects holding more than 2 billion barrels of oil.

Springfield operates West Cape Three Points Block 2 (WCTP 2) which is sandwiched between two prolific oil and gas fields — Tullow Oil’s Jubilee to the west and Eni’s Sankofa-Gye Name to the east.

It holds an 84% stake in WCTP 2 and is looking for a partner to take on a “meaningful equity position” in the acreage, according to a Springfield presentation at BEOS 2023 in April.