New oil fields discovered in Ghana with over 1.2bn barrels of crude

Ghana has discovered two new oil fields with over 1.2 billion barrels of crude, surpassing Jubilee Field, the nation's biggest.

New oil fields discovered in Ghana with over 1.2bn barrels of crude

According to the Financial Times, the discoveries were made by the Springfield Group, a Ghanaian company with no history of exploration.

The company is expected to announce the latest discovery in the next coming days.

“We are the first African company to drill in deep water and to find oil,” said Kevin Okyere, Springfield’s chief executive and a former telecoms entrepreneur, FT quoted him as saying.

“Nigeria has had oil for a long time and no indigenous company there has ever done this.”  

The Government of Ghana has 18 percent stake in the block, Mr Okyere said, revealing that president Nana Akufo-Addo will join a ceremony to announce the find.

Springfield acquired West Cape Three Points Block 2 in 2016 after Kosmos relinquished it.

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