Ghana has made a new offshore gas and condensate discovery with the Nya Gyidie-1X wildcat well in the Deepwater Cape Three Points block, President John Dramani Mahama announced on Tuesday, November 10.
Mahama revealed the find in Takoradi while opening the 2026 Local Content Conference and Exhibition, organised by the Petroleum Commission.
Planet One Oil and Gas Limited, which operates the block with a 75% interest, drilled the well in partnership with the Ghana National Petroleum Corporation (GNPC), which holds 15%, and GOIL Upstream Limited, with the remaining 10%.
No reserve estimates or flow rates were published by the Presidency or the joint-venture partners. The size and commercial potential of the discovery will be assessed through further appraisal work.
First test of carbonate play in Ghanaian waters
The well’s name comes from the Akan phrase meaning “Have Faith”. Speaking to traditional leaders and industry representatives, Mahama said it had achieved a geological first for Ghana.
“It is the country’s first successful test of a Cenomanian-Turonian carbonate play as a primary exploration target,” he said.
The drilling also examined the Lower Albian formation as a secondary target.
Planet One had planned to begin drilling in mid-October 2026 using the Noble Venturer drillship. The programme followed a review of regulatory compliance with the Petroleum Commission in 2025 and consultations in August 2026 with seven fishing communities in the Western Region.
ExxonMobil previously owned an 80% interest in the Deepwater Cape Three Points acreage, but left the block in 2021. GOIL Upstream subsequently completed farm-out and joint operating agreements that transferred a 75% interest and operatorship to Planet One.
Discovery comes as Ghana seeks new reserves
The find adds to efforts to replenish Ghana’s petroleum reserves as production from its three producing fields – Jubilee, Tweneboa-Enyenra-Ntomme (TEN) and Sankofa-Gye Nyame – has declined.
National crude output fell from a peak of about 195,000 barrels a day in 2019 to roughly 88,000 barrels a day. Mahama said progress in resolving upstream disputes had since helped lift production above 120,000 barrels a day.
Partners in the Jubilee and TEN fields have pledged US$2 billion in investment, while operators of Offshore Cape Three Points have committed a further US$1.5 billion.
Ghana’s natural gas production currently averages about 400 million standard cubic feet a day. That figure is expected to approach 500 million standard cubic feet once upgrades to facilities connected to the non-associated gas project at Offshore Cape Three Points are completed.
Renegotiated gas sales agreements with Eni and Vitol have reduced average prices by 23%. Mahama said the changes would save Ghana about US$3.5 billion over the remaining life of the field.
At the Takoradi conference, Energy Minister John Abdulai Jinapor also presented seven proposed changes to Ghana’s petroleum fiscal framework. He forecast that at least six new petroleum agreements would be concluded by the first quarter of 2027.
“Our goal is to turn those resources into jobs and opportunities for millions, and to deliver a tangible improvement in the lives of our people,” Mahama said.
