The IES is asking for the completion of the unitization between ENI and Springfield

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The Institute for Energy Security’s (IES’) after careful research has released a document advising Exploration and Production Limited (ENI) Ghana and Springfield E&P to woo investors into upstream petroleum to maximize earnings to themselves and the government and partly due to advent and the coming into effect of green energy.

The report available stipulates that “the IES study finds that Government’s directive to Eni Ghana Exploration and Production Limited (ENI) and Springfield E&P (Springfield) to signing the Unitization and Unit Operating Agreement (UUOA) to complete the unitization of the Afina and Sankofa fields, may well be one of the many responses to the possible
stranded hydrocarbon assets, from the global energy transition”.

Green energy comes from renewable sources that uses natural means like sunlight, wind, water and geothermal heat to generate energy. Due to the increase advent and world acceptability of green energy to fastrack the signing  Eni Ghana Exploration and
Production Limited (ENI) and Springfield E&P (Springfield) Unitization
and Unit Operating Agreement (UUOA) to complete the unitization of the Afina
and Sankofa fields.

“As a result, any delay on the part of ENI and Springfield to unitize their respective fields to maximize oil production may deprive the country the opportunity to maximize its earnings from oil and gas,”IES report says.

Already coronavirus has affected Petroleum production and that has plummeted revenue globally.

Get the full details of the findings of IES report here;

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