Springfield Exploration and Production Limited (SEP) has responded to a petition sent to the Economic and Organised Crime Office (EOCO) by a Switzerland-based oil company.
The Switzerland-based oil company has accused the founder and Chief Executive Officer of Springfield Energy, Kevin Okyere, and partners of a “systematic and orchestrated economic crime” involving nearly US$93 million allegedly perpetrated by Springfield Exploration & Production Limited and GMP Energy Limited, both Ghanaian oil companies.
However, Springfield Exploration & Production Limited has denied any wrongdoing, describing the petition as “misleading and damaging”. GMP Energy, solely owned by one of the partners in Springfield, and also named, has yet to respond to the claims by the Swiss firm.
Alberto G. Salsiccia, Chief Financial Officer of Petraco Oil Company SA in a formal petition dated 16 May 2025, accused Springfield, GMP Energy, and their key officers Kevin Okyere, Geena Malkani Punjabi, and Emmanuel Ansah Bernasko of executing a sophisticated fraud scheme through “calculated deception and abuse of business relationships” in Ghana’s petroleum sector.
According to Alberto G. Salsiccia, the allegations span two major schemes: a petroleum products fraud totalling over US$30M, and a unitisation loan fraud amounting to at least US$63M.
The petition claims that GMP Energy Limited fraudulently retained over 35,000 metric tonnes of gasoline (worth US$29.3 million), which was supplied under a contract with EDURC Company DMCC and subsequently assigned to Petraco.
Despite receiving full payment from the state-owned Bulk Oil Storage and Transportation Company (BOST), GMP executives are alleged to have deliberately concealed the receipt of the funds and falsely claimed non-payment.
However, Springfield Exploration and Production Limited (SEP) has described the allegations as false and unfounded.
In a detailed statement issued Monday, the Ghanaian upstream oil and gas company stated, “The allegations contained in Petraco’s petition are false, unfounded, and entirely without merit,” the company said. “They do not reflect the facts of the commercial relationship between Springfield and Petraco and should not be treated as evidence of criminal conduct.”
“This was, and remains, a straightforward commercial arrangement,” Springfield stated. “Attempts to reframe it as a matter of criminality whilst it is being addressed in arbitration are not only misleading, but deeply damaging.”
“Springfield is a responsible, law-abiding Ghanaian company with a demonstrated commitment to transparency, ethical conduct, and national development. We welcome scrutiny and accountability but expect it to be based on fact, not speculation,” the statement read in parts.
