Ghana plans to drill two new oil exploration wells by the third quarter of 2026 as part of a broader effort to expand its hydrocarbon reserves and attract foreign investment, President John Dramani Mahama said Tuesday.
Speaking at the Africa Oil Week Summit, President Mahama said the initiative—led by the state-owned Ghana National Petroleum Corporation (GNPC) and its exploration subsidiary, Explorco—aims to accelerate upstream development and position the country as a competitive player in West Africa’s energy sector.
“The GNPC and Explorco are advancing preparations to drill new exploration wells by the end of Q3 2026,” Mahama told delegates. “This represents a strategic opportunity for partners seeking early entry into Ghana’s promising onshore sector.”
Mahama highlighted the largely untapped potential of the Voltaian Basin, calling it one of the most attractive onshore exploration frontiers on the continent. He noted that Ghana still holds significant unlicensed acreage across both offshore and onshore basins and encouraged international oil and gas companies to pursue joint ventures in the country.
The planned drilling is expected to enhance Ghana’s long-term energy security while also stimulating investment in the upstream sector. Ghana, which has been producing oil commercially since 2010, is looking to diversify its sources and reduce reliance on existing offshore fields.
Officials say the move could further strengthen Ghana’s reputation as a stable and investor-friendly energy hub in the region.
Source:TheDotNews