John Mahama announces gas discovery at Nya Gyidie-1X well

President John Mahama has announced a significant discovery of gas and condensate at the Nya Gyidie-1X exploration well, located in the Deepwater Cape Three Points (DWTCTP) block. The discovery, made by Planet One Oil & Gas in partnership with the Ghana National Petroleum Corporation (GNPC) and GOIL Upstream, marks a major milestone as the nation's first successful test of a carbonate reservoir system. This find is expected to boost national petroleum reserves and restore investor confidence in Ghana's upstream sector, which was previously operated in this block by ExxonMobil.

The Nya Gyidie-1X well, situated approximately 148 kilometers offshore, was drilled to a total depth of 2,289 meters. Technical assessments confirmed the presence of hydrocarbons at depths between 3,364 and 3,499 meters. Unlike previous discoveries in Ghana that primarily targeted sandstone formations, this success in a carbonate reservoir opens new geological targets for future exploration. GNPC Chief Executive Officer Kwame Ntow Amoah emphasized that while further technical assessments are required to evaluate the commercial viability of the find, it represents a crucial step in uncovering the resources necessary to sustain future production.

The announcement has prompted a debate over the project's origins and credit for the find. Collins Adomako-Mensah, Deputy Ranking Member of Parliament’s Energy Committee, stated that the groundwork for this discovery was laid during the administration of former President Nana Akufo-Addo. He detailed a timeline starting from May 2021, when ExxonMobil relinquished its interest in the block, and credited former Energy Minister Matthew Opoku Prempeh for overseeing the approvals and negotiations that facilitated Planet One's exploration. Adomako-Mensah urged the current government to acknowledge the procedural history and contributions of the previous administration in securing the project.

President Mahama has framed the discovery as part of a broader strategy to revitalize the energy sector and attract high-value investments. He highlighted recent efforts to renegotiate gas prices for national savings and increase domestic service value through local content. Energy Minister Dr. John Abdulai Jinapor expressed optimism that the milestone would lead to job creation and economic growth, aligning with the government's $3.5 billion commitment to expanding the upstream petroleum sector and empowering Ghanaian enterprises within the industry.