President John Dramani Mahama has announced that the Ghana National Petroleum Corporation (GNPC) and its exploration subsidiary, Explorco, will drill two new exploration wells by the end of the third quarter of 2026, in what he describes as a bold step to unlock Ghana’s hydrocarbon potential.
Speaking at the Africa Oil Week at the Kempinski Hotel in Accra, Mahama said the initiative presents fresh opportunities for global energy players. “Ladies and gentlemen, it is instructive to note that Ghana, like most African countries, has large unlicensed acreages across our offshore and onshore basins.
The onshore Voltaian Basin presents one of the most exciting frontiers on the continent. The GNPC and its exploration subsidiary, Explorco, are advancing preparations to drill new exploration wells by the end of the third quarter of 2026.
This presents a unique opportunity for partners seeking to pioneer Ghana’s onshore potential,” he declared.
Mahama noted that his administration has created a business climate that meets investor expectations while protecting national interests. “When I took office in January, we immediately signalled to the investment community that Ghana’s upstream sector is open once again for business,” he said.
The President revealed that three supermajors are already in talks with GNPC, describing the negotiations as a “strong signal of confidence in Ghana’s sedimentary basin, our governance and investment climate.”
He also disclosed that GNPC and Shell are renegotiating a liquefied natural gas agreement to ensure delivery within 18 months, reducing reliance on costly liquid fuels.
Outlining his vision, Mahama said, “In the downstream, Ghana’s vision is to transform into a regional petroleum hub… ensuring that natural gas becomes the primary source of fuel for our thermal plants.”
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