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Springfield

Description

Springfield commenced operations in 2008 and became one of the pioneer players in Ghana’s downstream sector. It obtained a license in 2010 as a Bulk Distribution Company (BDC) from Ghana’s National Petroleum Authority (NPA) for the procurement, sale and distribution of petroleum products to Oil Marketing Companies (OMC’s) and refineries. Over a period of five years, Springfield has supplied 12.5% of Ghana’s petroleum products requirement and continues to be one of the leading exporters of refined products to neighboring land-locked countries such as Mali and Burkina Faso. Springfield was also the first independent Ghanaian company to lift Government of Ghana’s crude oil entitlement from the TEN field in 2016 and 2017. The Group ventured into Nigeria in 2011 where it became active in Nigeria’s downstream sector by exporting crude oil and also handling the exports of new production and complex logistics from gas to liquid processing. These products were placed directly in South Korea, Brazil, and parts of Europe. Springfield has interacted with and formed business partnerships with various oil majors and participants in the downstream sector including BP, Chevron, Total, SK Energy, Braskem as well as Vitol, Trafigura and Glencore.

In the area of oilfield services, Springfield acquired a permit to provide services to the upstream petroleum Industry in Ghana in 2011. These services include: supply of vessels and other forms of logistics, subsea equipment, oil rigs, marine construction equipment and their maintenance. In 2015, Springfield, through one of its subsidiaries, entered into a joint venture agreement with Aker Solutions of Norway, one of the largest companies that provides subsea equipment and services to enable the production of oil wells. The JV Company operates in Ghana as Aker Solutions Ghana Limited.

Springfield E&P was incorporated in 2008 to secure private Ghanaian involvement in upstream exploration and production. The Company is operator of the West Cape Three Points Block 2, Offshore Ghana, having secured the block from the Government of Ghana. The takeover of the block was ratified in March 2016.

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