The Ministry of Energy has announced the withdrawal of the unitisation directives imposed on Springfield Exploration and Production Limited and Eni Ghana Exploration and Production Limited. The decision, made on February 25, 2025, comes after a review of an Arbitral Award issued in July 2024 and a legal opinion from the Attorney General and Minister of Justice.
The directives, originally issued in April, October, and November 2020, had mandated the compulsory unitisation of the Afina-1X Discovery and the Sankofa Cenomanian Oil Field. However, the Tribunal found that while the issuance of the directives breached the Petroleum Agreement, unitisation itself was not deemed unlawful.
The Ministry emphasized that the withdrawal allows Ghana to determine the best course of action in the national interest. The government remains committed to ensuring equitable and efficient development of petroleum resources while maintaining a conducive environment for investment.
The statement also highlighted the potential of the Afina field, which holds significant gas reserves that could enhance Ghana’s energy security. The government is working with Springfield and other contractors to commercialize these resources.
Additionally, the government acknowledged the importance of the Springfield block’s Tama field, which holds 1.2 trillion cubic feet (TCF) of gas and could contribute significantly to the country’s energy needs.
The Ministry encouraged ENI and Springfield to engage in negotiations for a mutually beneficial solution. It reaffirmed its openness to dialogue with stakeholders to ensure the sustainable exploitation of Ghana’s natural resources.
Source: ekuzoanews.com