Ghana finds hydrocarbons in new offshore formation

ACCRA, Ghana — President John Dramani Mahama has announced that Ghana has discovered hydrocarbons in a new offshore geological formation, opening an additional exploration frontier for the country’s oil and gas industry.

Mahama made the announcement on Tuesday, November 10, 2026, at a conference in the Western Region. The discovery was confirmed by Planet One Oil & Gas.

The find was made at the Nya Gyidie-1X exploration well in the Deepwater Cape Three Points Block, about 148 kilometres offshore. Mahama said it is the country’s first successful test of a Cenomanian-Turonian carbonate formation as a primary exploration target. Ghana’s previous commercial discoveries have come from sandstone reservoirs, so the formation gives explorers a different geological target.

The volume and type of hydrocarbons found have not been determined. Planet One’s Chief Executive, Andaleeb Sehgal, said further evaluation is under way to establish the discovery’s scale and development potential, and that additional exploration drilling is planned over the next 12 to 18 months.

The well is operated by Planet One Oil & Gas with GOIL Upstream Limited and the Ghana National Petroleum Corporation. Energy Minister John Jinapor described the discovery as a milestone in efforts to revitalise Ghana’s upstream sector and attract investment. Its commercial significance will depend on the results of the technical evaluation and on whether the resource can be developed economically.

Nigeria is also pursuing new hydrocarbon finds. In October 2026, Seplat Energy reported an estimated 157 billion cubic feet of natural gas and 19 million barrels of oil in place at its Aku-01 exploration well in Nigeria, with further evaluation needed to determine recoverable volumes. The Nigerian Upstream Petroleum Regulatory Commission has declared total petroleum reserves of 37.01 billion barrels of crude oil and condensate, and natural gas reserves of 215.19 trillion cubic feet, as of January 1, 2026.