ACEP warns Ghana against buying Kevin Okyere’s Springfield stake

Ghana’s leading energy think tank is urging the government to shelve any plan to acquire Springfield Exploration & Production’s interest in the West Cape Three Points Block 2, a move that would directly affect Springfield owner Kevin Okyere.

The Africa Centre for Energy Policy says a state purchase would set a costly precedent by using public funds to underwrite a private company’s risks. The group argues oil blocks are state assets operated by contractors at their own risk; if timelines slip or commercial thresholds aren’t met, the state should reclaim the block rather than pay for it.

The caution lands amid reports that officials have weighed a deal to bolster upstream output. Supporters of a purchase say it could secure national petroleum assets at a time of declining production. Critics counter that it would blur the line between commercial risk and public liability while weakening investor discipline.

Springfield and Okyere are best known for the Afina discovery in WCTP2 and a long-running push to unitize it with Eni’s Sankofa field. That fight triggered orders, lawsuits and appeals in multiple jurisdictions, keeping investors on edge and complicating decisions about the block’s future.

Springfield has previously pushed back at policy critics, denying claims of inconsistent reservoir data and defending the commercial potential of Afina. Okyere did not immediately issue a fresh public statement on the latest warning.

What happens next will depend on how the government weighs fiscal exposure against the promise of new barrels. Analysts say clarity on Afina’s data, development timelines and the state’s risk appetite will shape any outcome for Springfield — and for Okyere’s standing in Ghana’s offshore sector.