President Mahama announces major gas, condensate discovery offshore Ghana

In a major boost for the nation’s upstream petroleum sector, President John Dramani Mahama has announced a substantial new gas and condensate discovery offshore Ghana.

The find was made at the Nya Gyidie-1X exploration well in the Deepwater Cape Three Points block, located in the prolific Tano Basin. President Mahama made the announcement today, Tuesday, at the opening of the 2026 Local Content Conference and Exhibition, organised by the Petroleum Commission in Takoradi.

The discovery marks a dramatic turnaround for the DWCTP block, which was previously operated by U.S. major ExxonMobil before the company relinquished its interest in 2021.

The block is now operated by Planet One Oil & Gas, which holds a 75 per cent participating interest, in partnership with the Ghana National Petroleum Corporation with 15 per cent, and GOIL Upstream with 10 per cent.

This new structure highlights the growing capacity of indigenous companies to lead high-stakes exploration in the country’s oil and gas industry.

Addressing the conference, President Mahama described the discovery as a testament to the resilience and potential of Ghanaian-owned enterprises in the energy sector.

The discovery follows an intensive exploration campaign by Planet One. The company had targeted an October 2026 spud for the Nya Gyidie-1X well using the Noble Venturer rig. Before drilling, the company engaged with the Petroleum Commission in 2025 to review progress and ensure regulatory compliance.