GNPC hails Nya Gyidie-1X discovery as boost to Ghana's oil and gas prospects

The Ghana National Petroleum Corporation (GNPC) has welcomed the discovery of hydrocarbons at the Nya Gyidie-1X exploration well in the Deepwater Cape Three Points (DWCTP) Block, describing the development as an important step towards strengthening Ghana's future oil and gas production.

The discovery, announced by block operator Planet One Oil & Gas, represents the first successful test of a carbonate reservoir system in Ghana, potentially opening up a new frontier for petroleum exploration beyond the sandstone formations that host the country's existing commercial oil and gas fields.

GNPC, which holds a partnership in the block alongside Planet One Oil & Gas and GOIL Upstream Limited, said the discovery offered fresh prospects for replenishing the country's petroleum reserves amid concerns about declining production and long-term sustainability.

The Nya Gyidie-1X well, situated approximately 148 kilometres offshore Ghana, was drilled in water depths of 2,289 metres and encountered hydrocarbons within carbonate formations at measured depths ranging from 3,364 to 3,499 metres.

GNPC Chief Executive Officer, Kwame Ntow Amoah, described the discovery as a major milestone for Ghana's upstream petroleum sector, particularly because of the geological formation in which the hydrocarbons were found.

“The significance of Nya Gyidie-1X goes beyond the hydrocarbons encountered in this well. For the first time in Ghana, we have tested and confirmed hydrocarbons in a carbonate reservoir system, opening a new geological play for further exploration,” he said in a statement.

Mr Amoah said the discovery had come at an important time when increasing petroleum reserves and sustaining production remained key priorities for the country.

He, however, stressed that further technical assessments would be necessary to establish the extent of the find and determine whether it could be commercially developed.

“The next task is to establish the scale and commercial potential of the discovery through rigorous technical evaluation. GNPC looks forward to working with Planet One and GOIL Upstream to build on this result and advance the development and production opportunities it presents for Ghana,” he added.

The Corporation explained that although the presence of hydrocarbons had been confirmed, additional technical studies and appraisal work would be required to determine the size, geological characteristics and commercial viability of the discovery.

Findings from these assessments are expected to inform subsequent exploration and development decisions within the DWCTP Block.

GNPC also acknowledged the contributions of Planet One Oil & Gas, GOIL Upstream and the technical teams involved in the drilling exercise, commending them for their collaboration in achieving the discovery.

The Corporation reaffirmed its commitment to working with its partners and relevant regulatory authorities to assess the find and determine the appropriate next steps, in line with its mandate to support the exploration, development and responsible management of Ghana's petroleum resources.