President Mahama announces new offshore oil discovery at Nya Gyidie well
Ghana has recorded a new offshore hydrocarbon discovery in the Deepwater Cape Three Points contract area, raising prospects for renewed exploration and investment in the country’s petroleum industry.
President John Dramani Mahama announced the discovery at the opening of the 2026 Local Content Conference and Exhibition organised by the Petroleum Commission in Takoradi on Tuesday.
The discovery was made by Planet One Oil and Gas Limited, in partnership with GOIL Upstream Limited and the Ghana National Petroleum Corporation (GNPC), at the Nya Gyidie 9-1X well.
The President said the discovery marked an important milestone for Ghana, as it was the country’s first successful test of a Cenomanian-Turonian carbonate-clay formation as a primary exploration target. The well also targeted the Albian formation as a secondary objective.
Explaining the significance of the discovery, President Mahama said: “The hydrocarbon discovery at the ‘Nya Gyidie’ 9-1X well in the Deepwater Cape Three Points contract area marks an important milestone for Ghana. It is the country’s first successful test of a Cenomanian-Turonian Carbonate-Clay as a primary exploration target.”
He said the name Nya Gyidie, meaning “Have Faith”, reflected the confidence demonstrated by the companies in Ghana’s petroleum prospects and the direction of the country’s exploration agenda.
“By drilling this well, Planet One and its partners fulfilled an exploration commitment and demonstrated confidence in Ghana and in the direction of our research agenda. And that is why it is called Nya Gyidie, which means have faith,” he said.
The President said the immediate priority was to accelerate responsible exploration and establish the infrastructure required to develop Ghana’s petroleum resources sustainably.
“Our goal is to turn those resources into jobs and opportunities for Ghanaians and to deliver lasting improvements in the lives of our people,” he added.
The discovery comes as government steps up efforts to reverse the decline in crude oil production and attract fresh investment into the upstream sector.
President Mahama said production had risen from about 88,000 barrels per day to more than 120,000 barrels per day following renewed engagement with industry partners.
He also disclosed that the Jubilee partners had committed US$2 billion to new projects, which would fund new wells, subsea infrastructure and the expansion of production facilities.
The President said the investments must also translate into greater opportunities for Ghanaian businesses through skills development and technology transfer.
He urged operators to make training and technology transfer an integral part of their partnerships with local companies and provide qualified Ghanaian suppliers with early information about upcoming contracts.
“I therefore urge operators to provide qualified Ghanaian suppliers with early visibility of upcoming contracts and to embed training and technology transfer into their partnerships,” he said.
President Mahama further announced that the Ghana National Petroleum Corporation, through its subsidiary Exploco, was preparing to drill its first exploration wells in the Voltaian Basin, with drilling expected to commence in the first quarter of 2027.
He said the new discovery and planned exploration activities formed part of the broader effort to replace the reserves being produced and secure the long-term future of Ghana’s petroleum industry.
The President congratulated Planet One and its partners and tasked the Petroleum Commission to ensure that operators fulfilled their agreed exploration commitments.
Richard Aniagyei, ISD
