Lyn Frans
Ghanaian President John Dramani Mahama has announced a new petroleum discovery in the Deepwater Cape Three Points block in the Tano Basin, marking a significant development in the country’s efforts to expand its oil and gas resources.
The discovery follows exploration drilling conducted by Planet One Oil and Gas Limited in partnership with the Ghana National Petroleum Corporation (GNPC).
The discovery was made through the Nya Gyidie-1X exploratory well, located approximately 148 kilometres offshore Ghana, in water depths of about 2,289 metres.
Initial drilling results identified hydrocarbons in carbonate rock formations, opening a new exploration opportunity for Ghana’s petroleum industry.
However, the size of the discovery and its commercial potential have not yet been established. Further technical assessments and appraisal activities will be required to determine the volume of recoverable petroleum resources and whether they can support commercial production.
Speaking at the 2026 Local Content Conference and Exhibition in Takoradi on November 10, Mahama described the discovery as an important milestone for Ghana’s energy sector.
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The development comes as Ghana seeks to reverse declining oil production, attract new investment and replenish its petroleum reserves through renewed exploration activities.
The country has been working to strengthen its upstream petroleum industry while encouraging greater participation by domestic companies in exploration, production and related services.
The government has also emphasised the importance of ensuring that natural resource discoveries generate employment, promote technology transfer and create wider economic opportunities for Ghanaians.
If subsequent assessments confirm commercial viability, the discovery could strengthen Ghana’s petroleum production outlook, support government revenues and reinforce its position as an important energy producer in West Africa.
For now, attention will remain on further exploration and appraisal work to establish the discovery’s actual size and determine the next steps towards possible development.
