What Springfield Group does

Springfield Group is a privately-held, wholly Ghanaian-owned integrated energy company founded in 2008 by Kevin Okyere and headquartered in Accra, Ghana. The company operates across the full oil and gas value chain through three divisions: upstream (exploration and production via flagship subsidiary Springfield Exploration and Production Limited), oilfield services, and downstream petroleum trading and distribution. Springfield E&P holds an 84% operating interest in West Cape Three Points Block 2 offshore Ghana, where it became the first independent African energy company to drill in deepwater and discover hydrocarbons, finding 1.5 billion barrels of oil and 0.7 tcf of gas at the Afina field. Core upstream technology comprises 3D seismic acquisition using the PGS Ramform Titan vessel, deepwater drilling via the Stena Forth drillship and Deepsea Bollsta semi-submersible rig, and Drill Stem Testing of Cenomanian and Turonian sandstone reservoirs.

The company generates revenue through two principal streams: upstream crude oil and gas production from the unitized Afina-Sankofa field (currently ~58,000 bopd combined, with potential to reach 115,000 bopd), and downstream importation, storage, and distribution of refined petroleum products (gasoline, kerosene, gasoil, naphtha, jet fuel) to Oil Marketing Companies across Ghana, Nigeria, Mali, and Burkina Faso. Springfield Energy's trading business alone generated revenues exceeding $1 billion in 2019, making it the dominant fuel importer into Ghana. The company serves government partners (GNPC/EXPLORCO as 16% minority in WCTP Block 2), unitization counterparties (Eni/Vitol on Sankofa), and institutional financing partners (African Export-Import Bank via a $750 million facility signed in June 2023). Springfield differentiates through indigenous Ghanaian ownership in a sector historically dominated by foreign multinationals, proprietary deepwater technical capability, and integrated value-chain positioning spanning upstream through downstream distribution.

Name

Springfield Group

Legal name

Springfield Group

Website

https://springfieldgroup.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

251–500 employees

Short description

Springfield Group is a privately-held Ghanaian integrated energy company operating across upstream oil and gas exploration (84% interest in WCTP Block 2, 1.5 billion barrels discovered), oilfield services, and downstream petroleum product distribution across West Africa.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration & Production

NAICS

Oil and Gas Extraction (2111), Support Activities for Oil and Gas Operations (213112)

SIC

Drilling Oil & Gas Wells (1381), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Retail Service Station Operations (Company-Owned & Dealer-Operated) (EUALAIAA)

Keywords

• Upstream oil exploration
• Deepwater drilling services
• Petroleum product trading
• Oilfield services
• Crude oil production

Headquarters

HQ city

Accra

HQ country

Ghana

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Oil and Gas Exploration and Production: Springfield Group operates as an integrated upstream petroleum company. Its flagship subsidiary Springfield E&P holds an 84% interest as Operator and Majority Interest Holder of West Cape Three Points Block 2. Following the unitization of the Afina and Sankofa fields, the combined field produces approximately 58,000 barrels of oil per day with potential to expand to 115,000 bopd. Revenue is generated through the sale of crude oil and gas extracted from producing fields.
2. Petroleum Product Trading and Distribution: Since 2008, Springfield Energy has imported refined petroleum products including gasoline, dual-purpose kerosene, gasoil, naphtha, and jet fuel into Ghana. The company is the dominant importer of fuel products in Ghana, with revenues exceeding $1 billion in its trading business alone. This downstream business preceded the company's entry into upstream exploration and production.
3. Oilfield Services and Terminaling: Springfield Group provides oilfield services through subsidiaries including storage facilities, gas station networks, haulage companies, and oilfield services operations across West Africa (Ghana, Nigeria, Mali, Burkina Faso). Revenue is generated through service fees for hydrocarbon transportation, storage, and distribution infrastructure.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Springfield Group is a Ghanaian integrated energy company operating across the full oil and gas value chain. Through its flagship subsidiary Springfield Exploration and Production (SEP), it holds an 84% operatorship interest in West Cape Three Points Block 2 offshore Ghana, where it has discovered and is appraising the Afina deepwater oil and gas field. The group also operates downstream petroleum trading and oilfield services businesses across Ghana, Nigeria, Mali, and Burkina Faso.

Product overview

Springfield Group is a cluster of Ghanaian energy companies operating as a fully integrated entity across the entire oil and gas value chain. The portfolio consists of three core operating divisions: Upstream (exploration and production via Springfield Exploration and Production, including deepwater drilling at West Cape Three Points Block 2), Oil Field Services (drilling and well appraisal), and Downstream Global Trading (importation, storage, and distribution of refined petroleum products). Springfield E&P, the flagship upstream subsidiary, operates the WCTP Block 2 with an 84% interest alongside GNPC and EXPLORCO. The downstream division handles procurement, sale, and distribution of petroleum products to Oil Marketing Companies and refineries, supported by owned storage facilities and gas stations.

Differentiator

Problem solved

Functional benefit

Products and services

• Springfield Upstream (Exploration and Production) Exploration, appraisal, and production of crude oil and natural gas from the deepwater West Cape Three Points Block 2 offshore Ghana, including the Afina field discovered in October 2019 with proven reserves of 1.5 billion barrels of oil and 0.7 tcf of gas. Target customers include international oil offtakers and government partners.
• Springfield Oil Field Services Provision of oilfield services including drilling support, well appraisal operations (Drill Stem Testing), storage facilities, haulage, and specialist technical services for upstream operators across West Africa.
• Springfield Downstream Global Trading Importation, storage, transportation, and distribution of refined petroleum products including gasoline, dual-purpose kerosene, gasoil, naphtha, and jet fuel, sold to Oil Marketing Companies and refineries across Ghana, Nigeria, Mali, and Burkina Faso.

Quantifiable outcome

• 1.5 billion barrels of proven oil reserves and 0.7 tcf of gas discovered in WCTP Block 2
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered major and core.

• HalliburtonmajorTechnology or Integration · 1 October 2024Halliburton is involved as a blue-chip service company providing support services for the Afina-1x well appraisal and testing campaign. The company was listed as attending the news conference announcing the commencement of appraisal operations alongside Springfield, Northern Ocean Limited, and GNPC officials.
• Northern Ocean Limited (NOL)coreTechnology or Integration · 1 September 2024Springfield E&P contracted the Deepsea Bollsta semi-submersible rig from Northern Ocean Limited (NOL) to lead the appraisal of the Afina-1x well on WCTP Block 2 offshore Ghana. The rig arrived in October 2024 and conducted well-test and appraisal activities, completing operations in November 2024. NOL CEO Arne Jacobsen described the alliance as building a long-term relationship delivering first-in-class operations.
• Eni (Sankofa Field Unitization)coreOthers · 1 October 2020Springfield's Afina field and Eni's Sankofa field were declared unitized by the Government of Ghana, with Afina holding 54.545% and Sankofa 45.455% of the combined field. Eni operates the unitized field. Springfield pursued legal action to enforce unitization and secure 30% of Sankofa revenues (~$40M/month) into escrow pending resolution. The unitization follows an International Court of Arbitration ruling in July 2024 directing Springfield to conduct further appraisal work.
• Stena Unicon Offshore Services Ghana Ltd (Stena Drilling)coreTechnology or Integration · 1 August 2019Springfield signed a contract with Stena Unicon Offshore Services Ghana Ltd for the Stena Forth Mobile Offshore Drilling Unit (MODU). The Stena Forth, one of the world's most sophisticated drillships capable of operating in up to 10,000 feet of water and drilling to 35,000 feet depth, was used for the maiden deepwater drilling campaign targeting Afina-1x and Oak-1x wells in WCTP Block 2.
• Petroleum Geo-Services (PGS)coreTechnology or Integration · 1 April 2017Springfield contracted the world's largest seismic vessel, the Ramform Titan owned by Petroleum Geo-Services (PGS), to undertake 3D seismic data acquisition over WCTP Block 2. This was the first time an African company shot 3D seismic in deepwater, providing critical geological data that underpinned subsequent drilling success.
• Ghana National Petroleum Corporation (GNPC) and GNPC EXPLORCOcoreStrategic or Co-development Partner · 1 March 2016GNPC and its exploration company EXPLORCO hold the minority 16% interest in West Cape Three Points Block 2 as Springfield E&P's partners. GNPC is Ghana's national oil company and co-invests in upstream operations, providing government backing and technical collaboration for oil and gas exploration and production in Ghana's waters.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Eni: Italian major operating the Sankofa field in Ghana, which is unitized with Springfield's Afina field under a government directive. Direct upstream peer and counterparty in the ongoing unitization dispute, sharing offshore Ghana acreage and infrastructure.
• Aker Energy: Norwegian-backed independent developing the Deep Water Tano / Cape Three Points block adjacent to Springfield's acreage. Closest direct peer in Ghana deepwater E&P with similar asset profile, capital intensity, and operating model.
• Vitol: Eni's partner on the Sankofa field and a major crude offtaker. Comparable as the upstream partner in the unitized Afina-Sankofa field and as a counterparty in the escrow arrangement following the Ghana Commercial Court ruling.
• Kosmos Energy: Originally held and operated WCTP Block 2 before relinquishing it (subsequently awarded to Springfield). Deepwater-focused independent with material Ghana exposure, making it the clearest direct precedent for Springfield's asset base.
• Tullow Oil: Operates the Jubilee field offshore Ghana and holds other West African deepwater acreage. Compares directly to Springfield as an independent/focused upstream operator active in Ghana's Tano Basin with FPSO-based production.
• Oranto Petroleum: African-focused independent E&P operator with upstream assets across West Africa. Comparable as a regionally focused independent tackling frontier-to-development assets in similar offshore basins.

Regional players

• Vivo Energy: African-focused downstream retailer and fuel distributor. Comparable to Springfield's downstream petroleum products distribution business across Ghana and neighboring markets.

Broad incumbents

• Sahara Group: Africa-focused integrated energy company spanning upstream, trading, and downstream distribution. Comparable to Springfield's downstream trading and storage business across West Africa, especially in fuel importation and distribution.
• Oando Energy Resources: Nigerian integrated energy group with upstream and downstream operations. Comparable to Springfield as a West African integrated player combining E&P with petroleum product distribution.

Others

• Ghana National Petroleum Corporation (GNPC): Ghana's national oil company and minority partner in WCTP Block 2 (with EXPLORCO holding 16%). Comparable as the state counterparty across licensing, unitization, and production-sharing terms, and as a non-operator in the same block.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/iam_springfield

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Springfield Group