Mahama Announces New Offshore Oil and Gas Discovery in Tano Basin, Reveals Important Details

President John Dramani Mahama has announced a new offshore oil and gas discovery in Ghana, describing the development as a major milestone for the country’s petroleum industry and a boost to efforts to strengthen the national economy.

The discovery was made at the Nya Gyidie-1X exploration well in the Deepwater Cape Three Points contract area, located within the Tano Basin off Ghana’s western coast.

President Mahama made the announcement on Tuesday, November 10, 2026, while addressing the opening ceremony of the 2026 Local Content Conference and Exhibition organised by the Petroleum Commission in Takoradi.

According to the President, the discovery was made by Planet One Oil and Gas Limited in partnership with GOIL Upstream Limited and the Ghana National Petroleum Corporation (GNPC).

He described the development as an important achievement for Ghana, particularly because it represents the country’s first successful test of a Cenomanian-Turonian carbonate play as a primary exploration target.

The exploration well also targeted the Albian formation as a secondary objective, providing additional geological information that could help improve understanding of Ghana’s offshore petroleum resources.

The well has been named Nya Gyidie, a Twi expression meaning ‘Have Faith’. President Mahama explained that the name reflects confidence in Ghana’s petroleum potential and the government’s determination to revive activities in the country’s oil and gas sector.

He congratulated Planet One and its partners for successfully completing the exploration commitment, noting that the achievement demonstrated renewed investor confidence in Ghana.

However, the exact size of the discovery and its commercial potential have not yet been established. Further appraisal work will be required to determine the volume of hydrocarbons available and whether the discovery can support commercial production.

The development comes at a time when Ghana is working to strengthen its petroleum industry, attract fresh investments and address concerns surrounding declining production from some of its established offshore oil fields.

President Mahama indicated that his administration was taking steps to create a more attractive environment for investors. These include resolving outstanding challenges in the industry and reviewing existing petroleum laws to introduce better incentives for companies interested in exploring Ghana’s offshore resources.

He also emphasised that the country’s natural resources must translate into meaningful economic opportunities for its citizens.

According to him, the government’s priority is to ensure that oil and gas discoveries create employment opportunities, support local businesses, encourage skills development and improve the living conditions of Ghanaians.

The discovery is therefore expected to generate fresh interest in Ghana’s petroleum sector, although the actual economic benefits will depend on further technical assessments and subsequent development decisions.

For Ghana, the Nya Gyidie-1X discovery represents another opportunity to expand its hydrocarbon reserves and strengthen its position as an important player in Africa’s energy industry.

The coming appraisal activities will be crucial in determining the full significance of the discovery and how quickly it could contribute to the country’s oil and gas production.

President Mahama’s announcement has consequently brought renewed attention to Ghana’s offshore exploration activities, with expectations that the discovery could open another chapter in the country’s petroleum industry.

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