Springfield Exploration and Production Limited

Springfield Exploration and Production Limited (SEP), an independent African energy company, has signed a US$750million facility with African Export-Import Bank (Afreximbank). The ceremony took place at the just-ended Afreximbank 30th Annual General Meetings held in Accra. This deal is expected to re-energise the industry from one that appears to have stagnated at best or was in decline at worst, and nudge players to seek fresh investments in exploring more blocs and generating more revenues. Despite the global shifting of focus away from fossil fuels, a deal such as this also shows that the world’s appetite for oil and gas won’t…