President John Dramani Mahama has announced a new gas and condensate discovery at the Nya Gyidie-1X exploration well in the Deepwater Cape Three Points (DWCTP) block in the Tano Basin, offshore Ghana.

The President made the announcement on Tuesday, 10 November, at the opening of the Petroleum Commission's 2026 Local Content Conference and Exhibition in Takoradi, according to Graphic Online, 3News and Pulse Ghana.

The size and commercial value of the find are not yet known. 3News reports that neither the Presidency nor the partners released reserve estimates or flow rates, and the Ghana National Petroleum Corporation (GNPC) said further technical work is needed to establish the discovery's size, characteristics and commercial viability.

The well is operated by Planet One Oil & Gas, which holds a 75 per cent interest in the block, with GNPC holding 15 per cent and GOIL Upstream Limited 10 per cent, according to Graphic Online and 3News.

In a statement carried by MyJoyOnline, GNPC said the well lies about 148 kilometres offshore and was drilled in 2,289 metres of water. It encountered hydrocarbons in carbonate rock between 3,364 and 3,499 metres measured depth.

The President described the result as the country's "first successful test of a Cenomanian-Turonian carbonate play as a primary exploration target," 3News reported. Ghana's existing commercial fields produce from sandstone reservoirs, GNPC noted, so the result opens a new geological target for exploration.

Mr Mahama said the discovery "marks an important milestone for Ghana," according to the Ghana News Agency and Pulse Ghana. "Our goal is to turn those resources into jobs and opportunities for millions, and to deliver a tangible improvement in the lives of our people," he said, as quoted by Pulse Ghana.

GNPC Chief Executive Kwame Ntow Amoah said: "The next task is to rigorously evaluate the discovery's scale and commercial potential," according to MyJoyOnline.

The DWCTP block was previously operated by ExxonMobil, which relinquished its interest in 2021, Graphic Online reported.

In the same speech, the President said crude oil production had recovered to more than 120,000 barrels per day, and that Jubilee partners had committed US$2 billion in new investment, with Offshore Cape Three Points partners pledging a further US$1.5 billion, according to 3News and Pulse Ghana. 3News reports output had fallen from a 2019 peak of about 195,000 barrels per day to about 88,000 barrels per day.

He also said amendments to the Petroleum Exploration and Production Act, 2016 (Act 919) had been submitted to Cabinet to improve incentives for investors, 3News and the Ghana News Agency reported.

GNPC said the results of further evaluation will guide decisions on appraisal and any further exploration.

Some early reports gave the well's name as "Nya Gyidie 91X" and a partner as "Well Upstream" or "World Upstream". GNPC's statement confirms the well is Nya Gyidie-1X and the partner is GOIL Upstream Limited.

Update 10 Nov. At the same conference in Takoradi, President Mahama said the second gas processing plant (GPP II) at Anochi is expected to save Ghana up to about US$1 billion a year. "The facility is expected to save Ghana up to about $1 billion a year by reducing our reliance on imported liquid fuels for power generation," he said, according to MyJoyOnline and 3News. No completion date was given.