Adomako-Mensah credits Akufo-Addo for key approvals behind oil discovery
The development of Ghana’s Deepwater Cape Three Points petroleum block involved a series of contractual changes and approvals under the previous administration, according to the Deputy Ranking Member of Parliament’s Energy Committee, Collins Adomako-Mensah.
The Afigya Kwabre North MP says those decisions helped pave the way for the Nya Gyidie-1X exploration well, where a new gas and condensate discovery was announced by President John Dramani Mahama on November 10.
In a Facebook post on Wednesday, November 11, Adomako-Mensah traced the project’s history to ExxonMobil’s decision to relinquish its 80% interest in the block in 2021. The interest was subsequently transferred to GOIL Offshore Ghana Limited in May 2022, increasing its stake to 85%, while GNPC retained 15%.
The Ghana Extractive Industries Transparency Initiative’s 2021–2022 oil and gas report confirms the transfer and records that GOIL later entered into farm-out and joint operating agreements with Planet One Oil and Gas Limited in December 2023. The Minister for Energy approved the transaction in February 2024, giving Planet One a 75% interest in the block.
Adomako-Mensah also pointed to the extension of the exploration period, which he said gave the companies additional time to complete technical studies and prepare for drilling. He argued that the key state approvals and groundwork had been completed before the Akufo-Addo-Bawumia administration left office in January 2025.
He consequently called for the previous government’s contribution to be acknowledged, singling out former Energy Minister Matthew Opoku Prempeh for his role in the process.
The discovery was made by Planet One, GOIL Upstream and GNPC at the Nya Gyidie-1X well in the Deepwater Cape Three Points block. GNPC says the well marks Ghana’s first successful test of a carbonate reservoir system, opening a new geological target for further exploration.
However, the volume and commercial potential of the discovery are yet to be established, with further technical evaluation required before its development prospects can be determined.
Source: CNR
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