President John Dramani Mahama of Ghana on Tuesday announced a fresh oil and gas discovery off the country’s western coast.
Mahama said during an official visit to the Western Region that the discovery was made in the Deepwater Cape Three Points block in the Tano Basin, following the drilling of the Nya Gyidie-1X exploration well.
“I am pleased to announce that Planet One Oil and Gas Limited, together with its partners, Goil Upstream Limited and the Ghana National Petroleum Corporation, has made a new offshore discovery,” the president said in Western Region, during the 2026 Local Content Conference and Exhibition, organized by the Petroleum Commission.
The discovery contained gas and condensate, whose volume is yet to be determined, said the president.
The president described the discovery as evidence of the resilience of Ghana’s oil and gas sector.
“Today, the well also targeted the Albian as a secondary objective,” he added.
The discovery adds to exploration activity in the Tano Basin, one of Ghana’s offshore petroleum areas.
The Deepwater Cape Three Points block is one of Ghana’s fertile grounds for petroleum exploration and discoveries.
Planet One began drilling the Nya Gyidie-1X well in October 2026, targeting the Cenomanian-Turonian geological formation, with the Lower Albian formation as a secondary objective. The company operates the block alongside the Ghana National Petroleum Corporation (GNPC) and GOIL Upstream Ghana.
The discovery comes as Ghana works to attract fresh investment into its upstream petroleum industry after years of declining crude oil output.
The country’s production peaked at about 195,700 barrels per day in 2019 before entering a prolonged decline, partly reflecting limited exploration drilling and the depletion of existing fields.
Mahama’s government has been seeking to restore investor confidence and encourage operators to commit more capital to exploration and field development.