Eni and Vitol on the one hand and Springfield on the other have been in conflict since April 2020, when the state asked them to consolidate their fields. Discussions between the two sides on how to unify Afina and Sankofa are expected to continue in the coming days.
On July 26, a second-instance commercial court dismissed Eni and Vitol’s request not to pay 30% of their income into an escrow account until an agreement was reached on the unitization of the fields. Afina and Sankofa. Recall that the two partners of the Sankofa field opposed a government injunction of April 2020 to unify their perimeter with that of Fina, operated by the local company Springfield.
Tired of waiting, on June 25, the court ordered them to pay 30% of their Sankofa income into an escster account, until an agreement was reached with Springfield. Technically, this decision should oblige the parties concerned to reach an agreement as soon as possible.
Kevin Okyere, CEO of the Ghanaian company, welcomed the fact that the courts have once again ruled in favor of Springfield’s position on the issue of unitization. “After years of delays and disruption that regional oil and gas players have already faced due to Covid-19, we believe that the conclusion of this case is in the best interests of all parties and we look forward to to work in partnership with Eni and Vitol. Maximize the benefits of this project for all stakeholders, including the citizens of Ghana, ”said the official.
The objective of uniting the fields is to regroup their operations in order to optimize the development and production of offshore hydrocarbons.
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