President John Dramani Mahama has announced a major offshore oil and gas discovery, describing it as a significant breakthrough that could strengthen Ghana’s petroleum industry and open new opportunities for investment, job creation and local participation in the sector.
The President made the announcement during his opening remarks at the 2026 Local Content Conference in Takoradi, where he revealed that Planet One Oil and Gas Ltd., in partnership with GOIL Upstream Ltd. and the Ghana National Petroleum Corporation (GNPC), had made a hydrocarbon discovery at the Nya Gyidie 9-1X well in the Deepwater Cape Three Points contract area.
According to President Mahama, the discovery marks an important milestone for Ghana’s upstream petroleum industry and demonstrates growing confidence in the country’s oil and gas sector.
“With ‘Nya Gyidie’, which means ‘faith’ in the local Twi language, they demonstrated unyielding faith and have now reaped the rewards with a major discovery,” he told participants at the conference.
“By drilling this well, Planet One and its partners not only fulfilled an exploration commitment but also demonstrated unwavering confidence in Ghana and our future research and development agenda,” he added.
President Mahama described the find as a groundbreaking geological achievement, noting that it represents Ghana’s first successful test of a Cenomanian-Turonian Carbonate-Clay play as a primary exploration target.
He explained that the success opens up new possibilities for offshore exploration in similar geological formations and could lead to the identification of additional hydrocarbon reserves.
The President further stated that the discovery reflects the positive impact of reforms introduced within Ghana’s petroleum sector, which are intended to attract investment and promote sustainable development of the country’s natural resources.
He emphasized the need to accelerate exploration activities while ensuring that Ghanaian businesses and workers benefit from opportunities created in the industry.
“Our priority now is to accelerate responsible exploration and to swiftly put in place the crucial infrastructure Ghana needs to develop its petroleum resources sustainably,” President Mahama said.
“We must turn these resources into tangible jobs and opportunities for Ghanaians and deliver lasting improvements in the lives of our people.”
The announcement was welcomed by stakeholders attending the conference, many of whom viewed the discovery as a positive signal for the future of Ghana’s energy industry and local content development.
The Local Content Conference, which brings together government officials, industry leaders, investors and local businesses, is expected to continue discussions on strategies to deepen Ghanaian participation in the oil and gas value chain and maximize the benefits of the country’s petroleum resources.