URGENT
🇬🇭 GhanaBusiness

Mahama announces hydrocarbon discovery off Ghana

By , based on MyJoyOnline

Mahama announces hydrocarbon discovery off GhanaJohn Dramani MahamaGary Bembridge from London, UK · CC BY 2.0 · John Dramani Mahama: Russian Presidential Executive Office · CC BY 4.0

Ghanaian President John Dramani Mahama has announced a new hydrocarbon discovery in the Cape Three Points block, off the country. The well was drilled by Planet 1 Oil and Gas with Bowler Upstream and GNPC; evaluation work is still needed before any development decision, according to MyJoyOnline.

Ghanaian President John Dramani Mahama is announcing a new hydrocarbon discovery in the Deepwater Cape Three Points block, in the Tano Basin, off Ghana. He announced it on Tuesday at the Petroleum Commission’s local content conference, in the Western Region.

The N1 GDA 9 1 X well was drilled by Planet 1 Oil and Gas Limited, in partnership with Bowler Upstream Limited and the Ghana National Petroleum Corporation (GNPC), the state-owned Ghanaian oil company. According to Mahama, it is the country’s first success in a Cenomanian-Turonian carbonate reservoir targeted as the main exploration objective. The well also targeted, as a secondary objective, the Albian formation.

Ghana will need to carry out further evaluation work to establish the extent and commercial potential of this discovery before any development decision.

Share this article

Related stories

Mahama pledges development of Volta Region at Hogbetsotso Festival

Ghanaian President John Dramani Mahama attended the Hogbetsotso Festival in Anloga, Volta Region, on Saturday, where he pledged that work was under way to develop the region. The celebration brought together traditional chiefs and dignitaries, including the king of Gonja State, according to the Ghanaian Times.

🇬🇭 Ghana · Source: Ghanaian Times ·

Mahama allocates 10 million cedis to media development fund

Ghanaian President John Dramani Mahama plans 10 million cedis in the 2027 budget to launch the Media Development Fund. The allocation is intended to fund journalists’ welfare, training and investigative journalism, among other areas, according to 3News.

🇬🇭 Ghana · Source: 3News ·

Mahama plans $9 billion for jobs

Ghanaian President John Dramani Mahama plans to invest more than $9 billion between 2027 and 2030 in sectors with high job-creation potential under the “New Economy” policy. The programme is to be detailed in the 2027 national budget, presented on 12 November, according to MyJoyOnline.

🇬🇭 Ghana · Source: MyJoyOnline ·

Mahama favours cooperation over direct payments for slavery reparations

Ghanaian President John Dramani Mahama believes reparations linked to the transatlantic slave trade and colonialism can take the form of economic and social cooperation rather than direct financial payments. This approach should involve African countries and former slave-trading and colonial powers, according to statements reported by La Nouvelle Tribune.

🇬🇭 Ghana · Source: La Nouvelle Tribune ·

🇬🇭 Latest from Ghana

Ghana proposes cutting GNPC carried interest to 10%Ghana proposes cutting GNPC carried interest to 10%The Ghanaian government proposes reducing GNPC’s initial stake in petroleum agreements from 15% to 10%, as part of a package of reforms to attract investors. According to Energy Minister John Abdulai Jinapor, the bill also provides for new royalties and extending contracts from 25 to 30 years.All Ghana news →

Business in West Africa

In Nigeria, power cuts paralyse shops and hospitalsIn Nigeria, power cuts paralyse shops and hospitalsNigeria’s electricity output has fallen to a fraction of national capacity, plunging Lagos and Abuja into darkness for long hours. Small businesses are struggling to afford fuel for generators, according to P.M. News, which denounces the deadlock between the government and distributors.All Business news →

The week in Africa

This week’s highlights

  1. US and Iran reportedly discuss uranium enrichment at 3.67%🇮🇷 Iran
  2. Ebola: Ghana imposes health checks at its three airports🇬🇭 Ghana
  3. Police search the Ritz in Paris in trafficking probe linked to Al-Fayed🇫🇷 France
  4. Mbeki says Ramaphosa should resign after ANC setback🇿🇦 South Africa
  5. Nigeria beat Japan 2-1 to win U17 Women's World Cup🇳🇬 Nigeria
All of this week’s highlights →

Africa in your inbox

Be the first to get our letter in English: the essentials from every region of the continent, free.

Free · one email a week · unsubscribe in one click. Your address is only used to send you the letter, never sold. Personal data

← Back to the news