President John Dramani Mahama has announced a new offshore hydrocarbon discovery at the Nya Gyidie-1X well in Ghana’s Deepwater Cape Three Points Block, describing it as an important milestone for the country’s petroleum industry.

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

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

He said the discovery demonstrated renewed confidence in Ghana’s petroleum prospects and could create opportunities for further exploration and investment.

A new exploration opportunity for Ghana

According to the President, the Nya Gyidie-1X well recorded Ghana’s first successful test of a Cenomanian-Turonian carbonate reservoir system as a primary exploration target.

The well also targeted the Albian formation as a secondary objective, providing additional geological information that could guide future exploration activities.

The name Nya Gyidie, which means “Have Faith” in Twi, reflects the confidence shown by the companies involved in Ghana’s petroleum potential.

President Mahama congratulated the companies and their technical teams for completing the exploration commitment.

He said the government’s priority was to accelerate responsible exploration and develop the infrastructure needed to make sustainable use of the country’s petroleum resources.

Discovery yet to establish commercial potential

Although hydrocarbons have been confirmed at the well, further technical studies and appraisal activities will be required to establish the size and commercial viability of the discovery.

GNPC has indicated that the results of these evaluations will guide decisions on possible development and production.

The discovery is considered significant because it confirms a new geological target for exploration beyond the reservoir systems associated with Ghana’s existing commercial oil and gas fields.

Government targets investment and job creation

President Mahama said the discovery could support efforts to attract fresh investment, create employment opportunities and strengthen Ghana’s upstream petroleum industry.

He also called on the Petroleum Commission to ensure that operators fulfil their exploration commitments and provide opportunities for Ghanaian businesses.

The President stressed the importance of skills development, technology transfer and greater participation of local companies in the petroleum industry.

He said Ghana must ensure that its natural resources translate into jobs, business opportunities and lasting improvements in the lives of its citizens.

The Nya Gyidie discovery comes as government steps up efforts to replenish the country’s petroleum reserves and attract new investment into the oil and gas sector.

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