Business News of Sunday, 17 November 2019Source: citinewsroom.comGhanaian firm Springfield makes historic oil discovery of 1.2bn barrels in deepwaterCEO of Springfield Exploration and Production Limited, Kevin OkyereSpringfield Exploration and Production Limited (SEP), an independent Ghanaian energy company, has made a discovery of more than 1.2 billion barrels of oil in its deepwater drilling off the coast in the Western Region. Springfield’s Chief Executive Officer, Mr. Kevin Okyere said the historic achievement chalked by his company was symbolic of what determination and perseverance could do for any individual or group of people. Springfield had drilled two wells in the past 40 days and made discoveries in both. According to the company, out of the 1.2bn in proven reserves, 30-35 percent would be recoverable in addition to commercially viable quantities of gas. The company is expected in the coming days to announce the findings.

Source: GhanaWeb November 17, 2019 15:45 UTC