President John Dramani Mahama has announced a major new offshore oil and gas discovery in Ghana’s Tano Basin, marking a big win for the country’s energy sector and local Ghanaian businesses.
Speaking in Takoradi at the opening of the 2026 Petroleum Commission Local Content Conference, President Mahama revealed that the find was made by Ghanaian-owned Planet One Oil and Gas Limited, working alongside GOIL Upstream and the Ghana National Petroleum Corporation (GNPC).
A First for Ghanaian-Led Exploration
The discovery was made at the Nya Gyidie-1X exploration well inside the Deepwater Cape Three Points block.
The find is especially significant because it represents a major technical success in a unique rock formation (the Cenomanian-Turonian carbonate play) and proves that Ghanaian-owned companies have the capacity to lead complex, deep-water oil exploration.
Planet One took over the block after American energy firm ExxonMobil stepped away in 2021. Today, Planet One leads the operation with a 75 percent stake, while GNPC holds 15 percent and GOIL Upstream holds 10 percent.
Turning Resources into Jobs and Local Growth
Addressing over 1,000 energy delegates and industry leaders, President Mahama pointed to the discovery as clear evidence that government efforts to empower local Ghanaian businesses in the oil and gas sector are working.
The President assured investors that the government is updating energy laws to bring in more investment, reverse declining oil output, and ensure that new discoveries lead directly to contract opportunities for local suppliers and solid jobs for Ghanaian youth.
