By: OrePulse

President John Dramani Mahama said Ghana has recorded a gas and condensate discovery at the Nya Gyidie-1X exploration well, operated by Planet One Oil & Gas Limited in the Deepwater Cape Three Points block offshore the Tano Basin.

Mahama disclosed the discovery while opening the 2026 Local Content Conference and Exhibition in Takoradi, an event organized by Ghana's Petroleum Commission. Addressing chiefs and other guests at the opening, he said: "Nananom and distinguished guests, I am pleased to announce that Planet One Oil and Gas Limited, together with its partners, GOIL Upstream Limited and the Ghana National Petroleum Corporation, has made a new offshore discovery."

The president did not disclose the volume of gas and condensate encountered, saying the find still requires appraisal work before its commercial viability can be determined. He described the result as significant for the country's exploration record. "It is the country's first successful test of a Cenomanian-Turonian carbonate play," Mahama said.

He pointed to the discovery as a sign of the strength of Ghanaian-owned firms operating in the energy sector, and said the result delivered on a pledge the company had previously made to drill the well. Mahama also linked the outcome to what he described as rising investor confidence in Ghana's upstream petroleum industry.

Planet One operates the Deepwater Cape Three Points block and holds seventy-five percent of the asset. The Ghana National Petroleum Corporation (GNPC) holds fifteen percent, and GOIL Upstream Limited holds the remaining ten percent.

Planet One took its stake in the block through a farm-in agreement with GOIL Upstream signed in 2023, after ExxonMobil relinquished its interest in the acreage. Planet One Oil & Gas Limited is a wholly owned subsidiary of Planet One Group, which businessman Sanjeev Mansotra owns.

Drilling of the Nya Gyidie-1X well began in October, using the Noble Venturer drillship. Planet One had outlined its plans for the well earlier in the year at Africa Oil Week 2026 in Accra, where the company's lead geoscientist, Doreen Addotei, said the team was ready to proceed. "Planet One has done the work. We've matured the opportunity; we've secured the rig. Now we are ready to drill," Addotei said.

At the Takoradi conference, Mahama also addressed the wider state of Ghana's oil and gas sector, saying his administration was pursuing measures to build investor confidence, working to settle disputes with operators, and seeking fresh investment to halt the slide in national oil output.

The drilling campaign at Nya Gyidie-1X is expected to yield further data on the oil and gas potential of the Deepwater Cape Three Points block. Appraisal work following the discovery will determine the extent of the find and whether it can be developed on a commercial basis.