Springfield rules out layoffs following introduction of about 50 percent salary cut

Indigenous oil firm Springfield Ghana Limited has ruled out laying off workers in the interim despite the continuous impact of the Coronavirus pandemic on the oil and gas industry.

Well Engineer and  Project Manager at  Springfield  Ghana  Ltd  Allan Mugisha said the firm has currently introduced salary cut  of about 50 percent for it workers.

He was speaking during a webinar on Covid 19 Response Strategies in Africa’s Oil and Gas industry organized by the African Centre for Energy Policy ACEP. The outbreak of Covid 19 has taken a huge toll on the operations of most businesses in the country with some resorting to the salary or job cuts.

The assurance of no job cut is coming on the back of revelations by the Chief Executive Officer of the Ghana Petroleum Commission that about 450 people are likely to loss their jobs in the sector if the coronavirus pandemic persists for a while longer.

Already some firms like Schlumberger have laid off contract staffs in a bid to lessen the impact of the pandemic on their operations. Since the beginning of the Covid 19, there has been a loss of more than 30 million barrels per day  of oil affecting oil firms globally.

The sector witnessed it lowest moment in history when oil recorded a negative price in April as result of the pandemic. Springfield which was incorporated in 2008 has in the last decade has become an enviable player in the oil and gas sector.

The firm last year discovered 1.5 billion barrels of oil and 0.7 trillion cubic feet of gas in its Afina 1 well in the West Cape three point block 2 offshore in Ghana. The firm said the undiscovered potential of the block located on the Western side of Cape three point is estimated at 3 billions barrels of oil and gas.

By Fred Dzakpata

Gh Extractives

Ghextractives.com is an independent multimedia portal that seeks to provide credible information and news content to readers especially players in the extractive sector in Ghana, Africa and beyond. It also provides a unique platform for players in the energy sector to market their products and reach a wider audience

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