Energy Ministry Announces Plans to Takeover Springfield’s 84% Stake Interest in West Cape Three Points Block
The Ministry of Energy and Green Transition, headed by John Jinapor, has disclosed plans for a State-led takeover of all interests held by oil exploration and production company, Springfield E&P, in the West Cape Three Points Block 2 (WCTP2).
The planned takeover, per a press statement by the Ministry on Wednesday, November 19, 2025, will be done through the national oil company, the Ghana National Petroleum Corporation (GNPC).
Springfield E&P is reported to have an 84% majority stake in WCTP2, with GNPC and its subsidiary, Explorco, holding the remaining 16% interest.
According to the Ministry of Energy, the takeover decision forms part of the Government’s broader strategy to safeguard national petroleum assets, optimise upstream output, and ensure that valuable resources do not remain stranded due to prolonged commercial or operational bottlenecks – which is currently being faced by Springfield E&P.
Adding that, the takeover process is being carried out without prejudice to any ongoing investigations concerning Springfield E&P or its affiliated entities by the appropriate State institutions.
“While undertaking this process, the Government remains fully committed to deepening the participation of indigenous Ghanaian companies, strengthening national technical capacity and skills transfer, and ensuring that Ghana’s local content framework continues to guide upstream operations.
“The intervention is therefore aligned with national policy objectives of building a competitive, resilient, and locally empowered oil and gas sector,” the statement read.
