Energy Minister John Jinapor says the government will only consider a state-led takeover of Springfield Exploration and Production Limited’s (SEP) stake in the West Cape Three Points Block 2 (WCTP2) if the asset meets strict technical and commercial criteria.
He made the comments on the Joy Super Morning Show while outlining the due diligence process the government intends to follow.
The government is currently exploring a possible intervention in the block as part of broader efforts to protect declining upstream assets and boost oil production, which has dropped significantly over the past few years.
The outcome of the evaluation will determine whether the state engages Springfield or walks away from the deal.
John Jinapor said the ministry will not proceed unless a thorough assessment shows that the field is commercially viable and beneficial to the state.
“Does the field hold potential? Is the field prolific? Is the state going to benefit if it takes a stake in that field? That is the technical aspect,” he explained.
He added that the commercial evaluation would also require validating Springfield’s financial claims.
“They claimed that they spent some money. Have they indeed spent that money? Can we validate those expenditures? Very, very critical,” he said.
The minister stressed that while he is committed to supporting Ghanaian companies in the petroleum sector, he will not compromise on due process or transparency.
“I’m determined to help any Ghanaian company. But I’ll never bend the rules. I’ll never bend fair principle,” he stated.
John Jinapor also welcomed scrutiny from civil society groups, including ACEP, noting that their comments help refine the process. He assured that any final report on the WCTP2 assessment will be made available to stakeholders for open discussion.
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