Business News of Thursday, 28 November 2024

Source: www.ghanaweb.com

Springfield, GNPC complete Afina-1x well discovery appraisal test

File photo of an oil rig File photo of an oil rig

Springfield Exploration and Production (SEP), an indigenous Ghanaian company, in partnership with the Ghana National Petroleum Corporation (GNPC) and GNPC EXPLORCO, have announced the successful completion of the appraisal well test for the Afina-1x discovery.

This test marks a significant milestone in its operations as the first independent Ghanaian and African energy company to operate a deep-water asset and successfully find hydrocarbons.

The Afina-1x well, initially drilled in 2019, is located at a water depth of 1,030 meters offshore West Cape Three Points and was drilled to a total depth of 4,085 meters.

The well encountered light oil within a gross thickness of 65 meters, with a 50-meter net oil pay in high-quality Cenomanian sandstone reservoirs.

Additionally, the secondary target in Turonian-age sands, located at the edge of the structure, encountered 10 meters of hydrocarbon-bearing sands comprising gas and condensates.

In a joint statement issued by Springfield and GNPC on November 27, 2024, it noted that a Drill Stem Test (DST) conducted on the Cenomanian sandstone delivered a maximum flow rate of 4,500 barrels of oil per day (bopd), confirming sound reservoir productivity.

It also pointed out that this performance exceeded pre-test expectations, despite indications of reservoir pressure depletion since the initial 2019 findings.

Further analysis of the Turonian sandstone using a mini-DST confirmed the presence of gas and condensates, with an estimated flow potential of up to 12,000 barrels of oil equivalent per day (boepd). Reservoir pressures in the Turonian sands were consistent with 2019 measurements, further affirming the reservoir's integrity and potential.

The operation was executed using the Deepsea Bollsta rig, which concluded on November 22, 2024, at midday with the rig departing Ghanaian waters the following day.

Chief Executive Officer of Springfield, Kevin Okyere, noted that, “We are extremely happy with the results of the appraisal program, which have further validated our geological, geophysical, and reservoir models while demonstrating our operational capacity.”

He added that while Afina-1x is a vertical well, future drilling using horizontal wells or other completion strategies could significantly enhance production rates, providing a solid foundation for the commercial development of the Cenomanian and Turonian reservoirs.

Following the successful appraisal of the Afina discovery, the company believes that the latest result reaffirms the commercial potential of Ghana’s deep-water resources, bolstering confidence in the country’s oil and gas prospects as well as the ability of a local company to operate a deep-water asset.

The indigenous firm will now explore development options for the Afina field, which could play a key role in strengthening Ghana’s energy sector and economy.

MA