Ghana has announced a new offshore discovery of gas and condensates in the Deepwater Cape Three Points block, in the Tano Basin, as the country seeks to attract fresh investment and reverse declining oil production.

The discovery was made by Planet One Oil & Gas and its partners at the Nya Gyidie-1X exploration well. President John Dramani Mahama announced the find on November 10, 2026, during an industry event in Takoradi.

The discovery is significant because the hydrocarbons were found in a carbonate reservoir, marking a new geological target for exploration in Ghana. Previous commercial discoveries in the country have mainly been associated with sandstone formations.

The project involves Planet One Oil & Gas, which holds a 75% stake, the Ghana National Petroleum Corporation (GNPC) with 15%, and GOIL Upstream Limited with 10%.

The find could open new opportunities for offshore exploration by encouraging companies to investigate geological formations that have received less attention in the past.

However, the discovery does not yet establish the existence of a commercially viable field. Further technical assessments will be needed to determine the size of the resources, the reservoir's characteristics and the economic potential of developing them.

The announcement comes as Ghana seeks to renew its hydrocarbon reserves and strengthen investment in its upstream petroleum sector.