Ghana has announced a significant offshore oil discovery at the Nya Gyidie-1X exploratory well in the Deepwater Cape Three Points (DWCTP) Block, raising prospects for further hydrocarbon finds and efforts to reverse the country’s declining crude oil production.
The discovery, made by Planet One Oil and Gas Limited in partnership with GOIL Upstream Limited and the Ghana National Petroleum Corporation (GNPC), has opened a new exploration play in the Tano Basin, potentially creating opportunities for additional discoveries in the area.
Although the find is yet to be appraised to establish the volume of recoverable resources and its commercial viability, it offers renewed optimism for Ghana’s upstream petroleum industry, which has experienced declining crude oil production over the past six years.
President John Dramani Mahama announced the discovery at the 2026 Local Content Conference and Exhibition (LCCE) in Takoradi, describing it as an important development for the country’s petroleum exploration prospects.
He said drilling of the well commenced on October 15, 2026, using the Noble Venturer, a seventh-generation ultra-deepwater drillship. The operation reached a total depth of 3,550 metres measured depth below rotary table (MDRT), encountering a significant hydrocarbon column within a sandstone reservoir.
The well also revealed hydrocarbon indications in the Albian formation, which has not previously been commercially produced in Ghana. The findings are expected to improve geological understanding of the basin and provide valuable information about the formation’s hydrocarbon potential.
President Mahama said the discovery had established a new play fairway in the Tano Basin, potentially expanding the country’s exploration opportunities and attracting further investment into the upstream sector.
The discovery is particularly significant as Ghana seeks to replenish its petroleum reserves and sustain production from its mature offshore fields. However, any contribution to national output will depend on further appraisal, confirmation of commercially recoverable resources, investment decisions and the time required to develop the field.
Chief Executive Officer of the Petroleum Commission, Emeafa Hardcastle, said the successful drilling validated government’s renewed commitment to accelerating exploration and replacing depleted reserves.
She said the Commission had reviewed and approved the drilling programme and associated contract packages in line with policy directions from the Ministry of Energy and Green Transition.
“The Commission expresses its readiness to work with Planet One and its partners to explore appraisal options that could advance the discovery,” she said.
Ms. Hardcastle added that the new drilling campaign, together with recently commenced drilling activities by the partners in the Offshore Cape Three Points (OCTP) and Jubilee fields, would support sustained production and improve operational efficiencies.
She noted that discoveries of this nature could help reduce exploration risks across Ghana’s sedimentary basins, attract new investment and improve prospects for additional hydrocarbon finds.
The Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, said the resumption of exploration activities reflected investor confidence in government’s policy direction and the country’s geological potential.
The Nya Gyidie-1X is the first exploration well drilled under the block’s seven-year exploration agreement.
Located approximately 148 kilometres offshore Ghana, the DWCTP Block lies in water depths of about 2,289 metres. The area was previously explored by ExxonMobil, which subsequently exited Ghana during a period of declining investor interest in the upstream petroleum industry.
The latest discovery therefore provides fresh impetus to exploration efforts in the Tano Basin as Ghana seeks to attract investment, replenish reserves and secure the long-term sustainability of its petroleum industry.
Source: businesspostonline
