Stena Drilling Ltd, an international oil drilling company with offices in Scotland, the UK, and the United States of America, has written to Ghana, warning the country about over US$6.7 million in debt owed to it by Kevin Okyere’s Springfield Exploration & Production Ltd.

The company addressed the letter to Energy and Green Transitions Minister John Abdulai Jinapor, who is preparing for a potential state-led acquisition of Afina-Sankofa Offshore Ghana, owned by Springfield. Notably, Ghanaian courts have recognised the debts against Springfield.

Stena Drilling is one of the world’s leading independent drilling contractors, consisting of five ultra-deepwater drillships and two semi-submersible rigs. It prides itself on having a global operational presence, pioneering offshore innovation, and managing pressure-drilling operations.

The CEO of Stena Drilling, ERIC Ronsberg, was at Stena Springfield’s Ghana office in July 2019, during a signing ceremony that officially contracted his company. It was also attended by the then Board Chairman of the Petroleum Commission, Stephen Sekyere Abankwah, Geena Malkani, Springfield’s second-in-command, Senyo Hosi, among others, together with Kevin Okyere. They relished the prospect of Springfield becoming the first African company to drill oil in deepwater.  

It is the second international petroleum company to come forward, detailing a complex web of unpaid obligations that confront Ghana if it proceeds with the state-led acquisition of the West Cape Three Points Block 2 (WCTP2).

Already, the transaction has been dogged by credible reports, including documents revealing that an outdated data was supplied by Springfield to dribble the Mahama government.

According to GNPC and Explorco officials, a five-year data set handed to Worldwide Petroleum Consultants and Netherlands-based Sewell & Associates Inc. (NSAI) for an independent valuation of Springfield’s assets in June this year, which put the cost of the well at US$747 million, was submitted without their knowledge.

The two institutions, in a joint statement, sought to discredit excerpts of a 26-page document that revealed officials of Springfield and GNPC Exploration & Production Limited provided NSAI with outdated data to assess the viability of the troubled Afina-Sankofa Offshore Ghana owned by Springfield, which is heavily in debt. Mr Okyere has been detained in Dubai over a US$94 million liability owed to a Switzerland-based company, Petraco Oil Company SA.

Interestingly, the document was addressed to Kwadwo Boateng Aniagyei of Springfield Exploration and Production Limited, located at Plot 43, Nii Nortei Nyanchi Street, Airport West, Accra, Ghana, and Samuel Opoku Arthur of GNPC Exploration & Production Limited, based at 5th Floor, Twin Office Tower, 30 Gulf Street, Shiashie, Accra, Ghana.

Stena Drilling Ltd’s alert was captured in a 26 November 2025 letter to the Ministry of Energy, obtained by NorvanReports. This online publication highlighted two final, enforceable arbitration awards against Springfield, now recognised as court judgments in Ghana.

Yet, as these claims gain renewed prominence, Energy and Green Transitions Minister John Abdulai Jinapor has insisted that any decision on WCTP2 will be guided strictly by technical and commercial merit, rather than creditor pressure. 

Stena’s letter leaves no room for doubt. The company holds two London-seated LCIA awards for unpaid offshore drilling services carried out in 2019 using the ‘Stena Forth’ drilling vessel.

Award 1 – LCIA Case No 204917, dated 31 August 2021, states the amount as US$6,613,005.35 (outstanding USD 6,741,431.17 with interest).

Award 2 – LCIA Costs Award dated 7 October 2021, with an amount of £179,564.15 British pounds.

On 30 March 2022, the High Court ruled that they satisfied all enforcement requirements, and the Court of Appeal upheld this decision on 16 May 2024. Stena now stands as Springfield’s senior, legally secure creditor, issuing a formal warning just as government discussions over WCTP2 intensify.

The second creditor, Petraco Oil Company SA, is also pressing claims under a USD 100 million facility agreement. Petraco alleges that Springfield defaulted on the first USD 50 million tranche, thereby increasing exposure, including interest, to approximately USD 62.76 million. The loan is secured by a 10% share charge, a corporate guarantee from Springfield Energy Ltd, and a personal guarantee from CEO Kevin Okyere.

While Petraco seeks ministerial consent to enforce its pledge, Springfield has contested the move, claiming that the matter is subject to ongoing arbitral proceedings initiated in January 2025. Consequently, the Ministry has ruled that it cannot take action that might prejudice arbitration outcomes.

Taken together, these creditor interventions present a challenging picture: Springfield faces mounting legal and financial pressures, while the Government’s desire to reclaim WCTP2 collides with obligations to respected international creditors. Analysts note that a hasty acquisition could expose the state to enforcement actions, international arbitration, reputational harm, and accusations of “fraudulent conveyance.”

Minister Jinapor has repeatedly emphasised the need for a cautious approach. In an interview with Accra-based Joy FM, he stated: “Independent, fair, technical and commercial no cedi will be spent without proof. Not a pesewa.” The Government has committed to a full independent technical audit, a rigorous commercial evaluation, and demonstrable national interest before any expenditure or action is undertaken.

NSAI’s document dated 9^th September 2025,  had stated “in accordance with your request we have estimated the contingent resources and cash flow to the Springfield Exploration and Production Limed (SEP) interest, as of June 2025, properties located in Anna-Sankofa Field, Offshore Cape Three Points (OCTP) Block and West Cape Three Points Block 2 (WCTP2 Block), offshore Ghana. Lt is our “understanding that SEP and GNPC Exploration Production Limited Company (GNPC EXpIorcO) are both interest owners in the WCTP-2 Block. The raw geoscience data for the OCTP Block were not available for this evaluation; therefore, we have estimated the original oil-in-place (OOIP) and the SEP post-unitization nearest Afina-Sankofa Field for each resources category using the Ghana National Petroleum Corporation (GNPC) October 14, 2020, independent estimate of OO1P of 535 million barrels for the OCTP Block, as provided by SEP, and our range of independent estimates of OOIP for the WCTP-2 Block”.   

In a recent press statement, it was said, “GNPC and Explorco executives did not give Sewell secondary data as indicated. The Sewell report contains a disclaimer and states that the data used in the report was provided by Springfield solely. Secondly, Springfield did not communicate to GNPC its intention to submit such data to Sewell for the valuation of the asset. GNPC and Explorco had no knowledge of Springfield procuring this report. The report is categorical that it is based on Price and Cost parameters and that the data used in the report’s estimates were provided by Springfield. GNPC and Explorco could therefore not have had the opportunity to provide a 2024 appraisal data available to them”.

Both GNPC and Explorco did not acknowledge the role of their official, Samuel Opoku Arthur, but insisted “….It was Springfield’s sole decision to supply the 2020 GNPC data”.  The statement did not also mention whether Mr Artur was questioned.

Based on the old data, Sewell had estimated Springfield’s assets at US$747 million. However, it has been revealed that the Petroleum Commission, led by Emefa Hardcastle, rejected the evaluation.

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