Ghana is intensifying efforts to secure Springfield Exploration and Production’s stake in the West Cape Three Points Block 2 (WCTP2), entering advanced negotiations as part of a broader national strategy to unlock one of its most significant untapped offshore energy assets.
Situated directly adjacent to Eni’s prolific Sankofa field, a cornerstone of Ghana’s current offshore production, the WCTP2 block is believed to contain more than 1.5 billion barrels of oil in place and an estimated 1.2 trillion cubic feet (tcf) of natural gas, based on Springfield’s technical assessments.
Industry analysts project the block’s total resource value could exceed $3 billion, making it a potentially transformative addition to Ghana’s energy portfolio.
By assuming control or partnering on this asset, the government aims not only to boost domestic energy security and export revenues but also to accelerate the development timeline for a resource that has remained largely undeveloped despite its strategic location and substantial reserves.
This move underscores Ghana’s determination to assert greater influence over its hydrocarbon resources and maximize economic returns from its deepwater frontier.
The Mining Nexus: How Resource Extraction Powers the Global Economy #FrizeMedia https://buff.ly/4xCRPWi
