President John Dramani Mahama has announced a new hydrocarbon discovery in the Deepwater Cape Three Points block, located in the Tano Basin offshore Ghana.
According to John Mahama, the discovery was made by Planet 1 Oil and Gas Limited in partnership with Bowler Upstream Limited and the Ghana National Petroleum Corporation (GNPC).
President Mahama described the discovery as a significant development for Ghana’s petroleum industry, saying the successful drilling had demonstrated renewed confidence in the country’s petroleum sector.
He noted that the find represents the country’s first successful test of a Cenomanian-Turonian carbonate play as a primary exploration target.
Speaking at the 2026 Petroleum Commission Local Content Conference and Exhibition in the Western Region on Tuesday, November 10, 2026, Mahama stated, “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 hydrocarbon discovery at the N1 GDA 9 1 X well in the Deepwater Cape Three Points contract area marks an important milestone for Ghana. It is the country’s first successful test of a Cenomanian-Turonian carbonate play as a primary exploration target”.
The President further disclosed that the exploration well also targeted the Albian formation as a secondary objective.
“Today, the well also targeted the Albian as a secondary objective,” he added.
Mahama further disclosed that crude oil production had increased to more than 120,000 barrels per day, while existing operators had committed substantial capital to new projects.
He disclosed that Jubilee partners have committed $2 billion, while other investments, including those involving Tullow and its partners, are expected to support new exploration.
Mahama disclosed that the discovery and renewed investment must translate into jobs, local business opportunities and greater participation by Ghanaian companies in the petroleum industry.
“Our goal is to turn those resources into jobs and opportunities for millions, and to deliver a tangible improvement in the lives of our people,” he said.
The latest discovery adds to ongoing hydrocarbon exploration activities in the Tano Basin, which hosts some of Ghana’s offshore petroleum resources.
However, reports disclosed further appraisal work will be needed to determine the size of the discovery, its commercial viability and the potential for future development.
The outcome of the appraisal process will help establish whether the discovery can be developed into a commercially viable petroleum resource.
