By Iddi Yire
Accra, Nov. 10, GNA – President John Dramani Mahama on Tuesday, announced the discovery of a new offshore oil well in the deep-water Cape Three-Point Contract Area.
The President made the announcement in Takoradi when he addressed the opening of the 2026 Local Content Conference and Exhibition being organised by the Petroleum Commission.
“I am pleased to announce that Planet One Oil and Gas Limited together with its partners, Well Upstream Limited and the Ghana National Petroleum Corporation have made a new offshore discovery,” President Mahama said.
“The hydrocarbons discovery at the Nya Gyidie (have faith) 91X well in the deep water Cape Three-Point Contract Area, marks an important milestone for Ghana. It is the country’s first successful test of a Cenomanian and Turonian carbonate-clay as the primary exploration targets.”
He said the well also targeted the albion as a secondary objective.
President Mahama has by drilling this well Planet One and its partners fulfilled an exploration commitment and demonstrated confidence in Ghana and in the direction of their reset agenda.
“And that is why it is called, Nya Gyidie, meaning, ‘have faith’ in the Twi language, translating it to mean “A Well of Faith.”
President Mahama said their priority now was to have accelerated responsible exploration and put in place the infrastructure needed by the Ghana to develop its petroleum resources sustainably.
He said their goal was to tend those resources into jobs and opportunities for Ghanaians and to deliver lasting improvement in the lives of our people.
President Mahama congratulated Planet One and its partners for the great achievement.
He recalled that in August 2016, he signed the Petroleum Exploration Development Act 919, which had saved the nation well in the current energy transition, but there was the need to amend the Act to provide better incentives to attract investments.
He said the amendment had been signed by both the Minister of Energy and Green Transition, and the Minister of Finance had just been submitted to Cabinet.
GNA
Edited by Linda Asante Agyei