Springett will be replaced temporarily by Les Wood, Tullow's vice president of finance and commercial, who joined the company in 2014.
The news comes after a rocky year for FTSE 250-listed Tullow. In July it unexpectedly posted a $30m profit for its first half, beating expectations of a $196m loss after production fell 22 per cent during the period. At the time, the company said it had been boosted by a cost-cutting programme it started in 2015.
However, shares had dipped earlier that month when the company launched a $300m bond auction, just months after it agreed a $3.5bn loan deal.
But in August things began to look up for the company, after it struck oil at offshore fields in Ghana.