The Government of Ghana, through the Ghana National Petroleum Corporation (GNPC), has begun steps for a potential state-led takeover of Springfield Exploration and Production’s Afina-1x oil well in the West Cape Three Points Block 2, which is one of the country’s most contentious undeveloped oil fields.Ghana travel guide
According to an official statement from the Ministry of Energy and Green Transition, the Ghana National Petroleum Corporation (GNPC), together with its upstream subsidiary GNPC Explorco, is in constructive discussions with Springfield as part of a strategy to safeguard petroleum assets and prevent economically viable reserves from remaining stranded.
To ensure transparency and technical rigor, the Petroleum Commission and GNPC have initiated a procurement process to hire an independent Technical Consultant and a Transactional Advisor.
The mandate of the consultant and advisor includes coming up with a comprehensive technical evaluation of the WCTP2 block, a full audit and verification of past expenditure, as well as a financial and commercial due diligence report.
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Source:Lovinghananews.com
