President Mahama Announces New Offshore Hydrocarbon Discovery in Ghana's Tano Basin

President John Dramani Mahama disclosed a new hydrocarbon discovery in the Deepwater Cape Three Points contract area within the Tano Basin, offshore Ghana. This discovery was made by Planet 1 Oil and Gas Limited in collaboration with Bowler Upstream Limited and the Ghana National Petroleum Corporation (GNPC). The find marks another development in Ghana's ongoing petroleum exploration activities.

The discovery was announced by President Mahama at the 2026 Petroleum Commission Local Content Conference and Exhibition in the Western Region on Tuesday, November 10, 2026. He characterised the find as a significant development for Ghana's oil and gas sector. This represents the country's first successful exploration test of a Cenomanian Turonian carbonate play as the principal target.

The hydrocarbon discovery was made at the N1 GDA 9 1 X well in the Deepwater Cape Three Points contract area. President Mahama stated that the exploration exercise also incorporated the Albian geological formation as a secondary target. This demonstrates that the drilling operation was designed to investigate more than one potential hydrocarbon bearing formation.

The latest find brings renewed attention to exploration prospects within the Tano Basin, an established offshore petroleum province that forms part of Ghana's wider hydrocarbon exploration landscape. However, the announcement does not necessarily translate into an immediate addition to Ghana's commercially recoverable petroleum reserves.

Further technical assessments will be necessary to determine the actual size, quality and economic viability of the discovery. The next phase is expected to involve additional appraisal activities to establish the extent of the hydrocarbon accumulation, evaluate its production potential and determine whether the resources can be developed commercially.

The outcome of those assessments will be critical in guiding subsequent investment decisions and determining the possible contribution of the discovery to Ghana's future petroleum production, government revenues and broader energy sector development. This will help shape the country's energy sector and potentially boost its economy.

The new hydrocarbon discovery is a significant milestone for Ghana's oil and gas sector. It highlights the country's ongoing efforts to explore and develop its petroleum resources. The government and stakeholders will be watching closely as the next phases of appraisal and potential development unfold.

Key points

• The discovery was made by Planet 1 Oil and Gas Limited in collaboration with Bowler Upstream Limited and the Ghana National Petroleum Corporation (GNPC).
• The find represents the country's first successful exploration test of a Cenomanian Turonian carbonate play as the principal target.
• Further technical assessments will be necessary to determine the actual size, quality and economic viability of the discovery.