ACCRA, Nov 11 – Ghana has made its first hydrocarbon discovery in a carbonate reservoir system, opening a new geological target for offshore exploration as the government seeks to revitalize the country’s upstream petroleum sector and attract fresh investment.
President John Dramani Mahama announced the discovery on Tuesday at a conference in the Western Region, identifying the find at the Deepwater Cape Three Points block, approximately 148 kilometres offshore Ghana.
Mahama described the discovery as the country’s first successful test of a Cenomanian-Turonian carbonate play as a primary exploration target. Ghana’s previous commercial hydrocarbon discoveries have been made in sandstone formations, making the latest find a potentially significant development for the country’s exploration strategy.
Planet One Oil & Gas, which operates the approximately 1,454-square-kilometre block alongside GOIL Upstream Ltd and the Ghana National Petroleum Corporation (GNPC), confirmed that hydrocarbons were encountered at the Nya Gyidie-1X exploration well.
The well, whose name means “have faith” in the local Akan language, was drilled in water depths of 2,289 metres. However, the company has not disclosed whether the discovery contains oil or natural gas, and no estimates of recoverable volumes have been released.
“Further evaluation is under way to determine the scale of the discovery and the appropriate development approach,” Planet One Chief Executive Andaleeb Sehgal said in response to questions from Reuters.
Sehgal added that the company has the expertise required for deepwater development and intends to continue onshore and offshore exploration drilling over the next 12 to 18 months.
Energy Minister John Jinapor described the discovery as a significant milestone in the government’s efforts to revitalise Ghana’s upstream petroleum industry and attract investment.
The find comes as Ghana seeks to replace declining hydrocarbon reserves and strengthen production from its existing petroleum assets. In June, Mahama announced $3.5 billion in new upstream investment commitments as part of the government’s efforts to support exploration and boost output.
Further evaluation of the Nya Gyidie-1X well will determine the scale and commercial potential of the discovery. Its significance for Ghana’s petroleum industry will depend on the results of that assessment and any subsequent development plans.
