President John Dramani Mahama has announced that the Ghana National Petroleum Corporation (GNPC) and its subsidiary, Explorco, are advancing preparations to drill two new exploration wells before the end of the third quarter of 2026.
The move is part of a broader strategy to accelerate upstream activity and position Ghana as a leading hub for oil and gas development in West Africa.
The President made the disclosure at the Africa Oil Week, held at the Kempinski Hotel in Accra, where government officials, investors, and energy stakeholders gathered to discuss Africa’s evolving petroleum landscape.
Highlighting Ghana’s untapped reserves, President Mahama described the onshore Voltaian Basin as one of the continent’s most promising frontiers.
He stressed that the upcoming wells would open new opportunities for collaboration between GNPC and potential partners seeking to pioneer exploration in Ghana’s onshore territory.
“The Ghana National Petroleum Corporation and its exploration subsidiary, Explorco, are advancing preparations to drill two new exploration wells by the end of the third quarter of 2026.”
President John Dramani Mahama
He described the planned wells as a “unique farming opportunity” for partners, reinforcing Ghana’s intent to balance commercial viability with national interest.
Investor Confidence Restored
President Mahama reaffirmed his administration’s commitment to strengthening collaboration with both established and new investors.
“When I took office in January, we immediately signalled to the investment community that Ghana’s upstream sector is open once again for business.”
President John Dramani Mahama
According to him, renewed investor interest is already evident in ongoing negotiations. “These policy initiatives have begun to yield the needed results,” President Mahama emphasized.
“I am pleased to share with you the recent renewed interest in our offshore basins.
“At present, three supermajors are at various stages of commercial negotiation with the Ghana Negotiations Team and GNPC. This is a strong signal of confidence in Ghana’s sedimentary basin, our governance and investment climate.”
President John Dramani Mahama
The President further referenced the increased production of gas from the Jubilee and OCTP fields, describing them as proof of Ghana’s growing capacity in offshore operations.
Energy Security and LNG Strategy
Turning to energy security, President Mahama announced ongoing renegotiations between GNPC, Shell, and other partners on a liquefied natural gas (LNG) sale and purchase agreement. The deal aims to ensure LNG delivery to Ghana within 18 months, reducing reliance on expensive liquid fuels.
“This will reduce the country’s dependence on costly liquid fuels, enhance energy security, and lower overall energy costs.
“This will end our reliance on expensive liquid fuels as backup for domestic gas, thereby strengthening energy security and lowering our energy costs.”
President John Dramani Mahama
The move forms part of the government’s broader effort to integrate gas more effectively into Ghana’s energy mix, while also making power generation more affordable for households and businesses.
President Mahama also unveiled an accelerated plan to expand gas infrastructure across the country.
“At the same time, the government is implementing an accelerated plan for developing its gas infrastructure.
“This includes investment in pipelines, new processing plants, and storage systems to guarantee sustainable evacuation of gas from our production fields to the market.”
President John Dramani Mahama
Ghana at the Centre of Africa’s Energy Future
The announcement comes at a time when global oil and gas companies are reassessing investment destinations amid rising demand in Africa and the ongoing global energy transition.
For Ghana, the new exploration drive and LNG import strategy underscore its dual ambition: to attract investment while securing affordable energy for development.
By pushing for both offshore and onshore exploration, Mahama’s government is also diversifying Ghana’s petroleum portfolio, a move analysts believe could shield the country from volatility in global energy markets.
As the President concluded his remarks, he reiterated that Ghana’s energy sector reforms are designed not only to boost production but also to ensure lasting national benefit.
With drilling of the new wells set for 2026 and gas infrastructure projects underway, Ghana appears to be laying the foundation for a more secure and sustainable energy future.
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