Ghana Makes First-Ever Carbonate Oil Discovery Offshore, Mahama Announces

By Gifty Boateng | New Republic

President John Dramani Mahama has announced a new offshore oil discovery in Ghana’s Deepwater Cape Three Points contract area the country’s first successful test of a Cenomanian–Turonian carbonate–clay formation as a primary exploration target.

The discovery was made at the Nya Gyidie 9-1X well by a consortium comprising Planet One Oil and Gas Ltd., its partner GOIL Upstream Ltd. a subsidiary of state oil firm GOIL and the Ghana National Petroleum Corporation. Until now, all of Ghana’s commercial discoveries, including the Jubilee, TEN and Sankofa fields, have been found in sandstone reservoirs in the Tano Basin. A successful carbonate play would open an entirely new geological frontier for exploration offshore Ghana.

“I am pleased to announce that Planet One Oil and Gas Ltd., together with its partners GOIL Upstream Ltd. and the Ghana National Petroleum Corporation, have made a new offshore discovery,” the President said, describing the find as “an important milestone for Ghana.”

Mahama made the announcement at the 2026 Petroleum Commission Local Content Conference and Exhibition in the Western Region. Energy Minister John Jinapor described the find as a significant milestone in efforts to revitalise the upstream sector and attract investment.

The Deepwater Cape Three Points block, off Ghana’s western coast, covers approximately 1,454 square kilometres. The Nya Gyidie 9-1X well was drilled in water depths of 2,289 metres, underscoring the technical demands of deepwater exploration. The block is already home to major producing assets.

Planet One Chief Executive Officer Andaleeb Sehgal said appraisal work was ongoing to size the discovery.

“Further evaluation is under way to determine the scale of the discovery and the appropriate development approach,” he said, adding that the company has the expertise needed for deepwater development and is committed to further onshore and offshore exploration drilling over the next 12 to 18 months.

Commercial prospects will depend on further technical assessment, and no development decision is expected until appraisal drilling establishes the extent of the find. Still, the discovery hands Ghana a new geological target at a time when the country is bidding to restore investor confidence in its upstream sector.

The find comes as the Mahama administration works to reverse years of declining output and replace reserves, including $3.5 billion in new upstream investment commitments announced in June 2026. It adds to exploration activity in the Tano Basin, one of Ghana’s offshore petroleum areas.