By Mildred Siabi-Mensah
Takoradi, Nov. 10. GNA – Ghana has recorded a significant hydrocarbon discovery at the Nya Gyidie-1X exploratory well in the Deepwater Cape Three Point (DWCTP) Block, opening a new exploration prospect in the Tano Basin.Â
The discovery, announced by President John Dramani Mahama at the Petroleum Commission’s Local Content Conference and Exhibition on Tuesday, is expected to deepen understanding of Ghana’s petroleum geology, encouraged further exploration and support efforts to replenish the country’s hydrocarbon reserves.
The development is in line with the government’s renewed focus on attracting investment into the upstream petroleum sector, accelerating exploration and sustaining production through the discovery and development of new reserves.
The Nya Gyidie-1X well was drilled by Planet One Oil and Gas Limited in partnership with GOIL Upstream Limited and the Ghana National Petroleum Corporation (GNPC).
It is the first successful exploration well drilled under the block’s seven-year exploration agreement and had established the presence of hydrocarbons in a previously untested Cenomanian-Turonian carbonate play, with additional hydrocarbon indications in the Albian stratigraphy.
President John Dramani Mahama described it as an important milestone for Ghana’s petroleum industry.
He said the successful drilling demonstrated renewed confidence in the country’s geological potential and the government’s efforts to revitalise exploration activities.
“The hydrocarbon discovery at the Nya Gyidie-1X 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,” President Mahama said.
He said the well also targeted the Albian formation as a secondary exploration objective, providing additional geological information that would improve upon understanding of the basin and guide future exploration.
The President said the government was committed to restoring investor confidence, resolving outstanding industry challenges and attracting fresh investments to reverse the decline in oil production.
He urged the Petroleum Commission to intensify monitoring of exploration commitments and ensure that operators fulfilled their agreed work programmes.
Mrs Emeafa Hardcastle, the Petroleum Commission’s Chief Executive Officer, said the discovery followed the Commission’s review and approval of the drilling programme and related contract packages, in line with policy directions from the Ministry of Energy and Green Transition.
She said the discovery validated the government’s renewed strategic focus on reserve replacement through accelerated exploration.
“We look forward to working with Planet One to explore appraisal options to help the company develop this discovery,” she said.
Dr. John Abdulai Jinapor, the Minister for Energy announced the establishment of a second gas processing plant to augment existing supplies in line with plans to promote energy security.
The President together with Mr. Ernest Thompson, the Board Chair of the Petroleum Commission, and other high-profile personalities later launched the Petroleum Fund to support local companies.
GNA
Edited by Justina Hilda Paaga /Kenneth Odeng Adade
Mildred Siabi-Mensah
[email protected]Â