Planet One Makes Gas, Condensate Discovery In Ghana’s Deepwater Cape Three Points Block

Ghanaian President John Dramani Mahama on Tuesday confirmed a gas and condensate discovery by Planet One Oil & Gas Limited at the Nya Gyidie-1X exploration well in the Deepwater Cape Three Points block, located in the Tano Basin offshore Ghana, as previously reported by energynewsafrica.com.

Mahama made the announcement at the opening of the 2026 Local Content Conference and Exhibition, organised by the Petroleum Commission in Takoradi.

The size of the discovery was not disclosed, as further appraisal work is required to determine whether the find is commercially viable.

Mahama described the discovery as a testament to the resilience and potential of Ghanaian-owned companies in the energy sector.

“Nananom and distinguished guests, I am pleased to announce that Planet One Oil and Gas Limited, together with its partners, GOIL Upstream Limited and the Ghana National Petroleum Corporation, has made a new offshore discovery.

“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,” the president said.

Mahama said the exploration campaign fulfilled a commitment made by the company and reflected growing investor confidence in Ghana’s upstream petroleum industry.

He added that his government was working to restore investor confidence, resolve outstanding disputes with operators and attract new investment to reverse the decline in oil production.

Planet One, the operator of the block, began drilling the well in October. The company had outlined its drilling plans at Africa Oil Week 2026 in Accra.

“Planet One has done the work. We’ve matured the opportunity; we’ve secured the rig. Now we are ready to drill,” Doreen Addotei, the company’s lead geoscientist, said at the conference.

Planet One acquired its interest in the block through a 2023 farm-in agreement with GOIL Upstream Limited after ExxonMobil relinquished its interest.

Planet One holds a 75% stake in the block, while the Ghana National Petroleum Corporation (GNPC) holds 15% and GOIL Upstream owns the remaining 10%.

Planet One is a wholly owned subsidiary of Planet One Group, which is owned by businessman Sanjeev Mansotra.

The drilling campaign is expected to provide additional data to help assess the block’s oil and gas potential.