The Minister for Energy and Green Transition, John Jinapor, says the government will only back a possible state-led acquisition of Springfield Exploration and Production Limited’s (SEP) stake in the West Cape Three Points Block 2 (WCTP2) if an independent and transparent valuation confirms the field’s strong commercial viability.
Speaking on the Super Morning Show, Mr. Jinapor revealed that Springfield had contacted the government, the Ghana National Petroleum Corporation (GNPC), and Explorco for support as discussions continue regarding the struggling asset.
He stressed that any state involvement must be driven by objective technical and commercial evaluations.
“Springfield is a Ghanaian company, and they’ve made significant investments,” he noted. “At this stage, they believe they need support. As minister, my position is that there must be an independent, fair valuation of the field.”
He added that both technical and commercial assessments will determine whether the asset merits state participation. If the evaluation shows that the WCTP2 field has solid potential—especially after clearing the high-risk exploration phase—the government will be willing to offer the necessary assistance.
“If the evidence shows the field has major potential, we will engage Springfield and provide whatever support is needed,” he said.
However, Mr. Jinapor made it clear that the government will withdraw if the valuation is not favorable. “If it does not meet the criteria, then we’re not proceeding,” he emphasized.
The conversation comes as the government seeks ways to protect declining petroleum assets and increase national oil production amid falling output from fields such as Jubilee and TEN.
