Planet One Oil & Gas, the upstream energy division of the diversified global conglomerate Planet One Group, founded and chaired by Indian billionaire Sanjeev Mansotra, has encountered hydrocarbons at its Nya Gyidie-1X exploration well in Ghana’s Deepwater Cape Three Points Block, opening a new geological target for the country’s petroleum industry.

President John Dramani Mahama announced the discovery on Nov. 10, 2026, at an energy conference in Ghana’s Western Region. The well marks the country’s first successful test of a carbonate reservoir system, expanding exploration prospects beyond the sandstone formations that host its established commercial oil and gas discoveries.

A new exploration target

The discovery comes as Ghana seeks to reverse declining oil production, replenish reserves and attract fresh capital to its upstream sector. In July 2026, Mahama announced $3.5 billion in new upstream investment commitments, underscoring the government’s push to revive exploration and strengthen the country’s position as an energy producer.

Mahama described Nya Gyidie-1X as the first successful test of a Cenomanian-Turonian carbonate play as a primary exploration target in Ghana. The well also tested the Albian formation as a secondary objective, fulfilling an exploration commitment by Planet One and its partners, according to the president.

The president said the discovery demonstrated investor confidence in Ghana and his administration’s Reset Agenda. He urged the industry to accelerate responsible exploration and develop the infrastructure needed to turn petroleum resources into jobs, investment and lasting economic benefits for Ghanaians.

Ultra-deepwater drilling results

Located about 148 kilometers offshore Ghana, Nya Gyidie-1X was drilled in water depths of 2,289 meters. The well encountered hydrocarbons in carbonate rock between 3,364 and 3,499 meters measured depth, confirming the presence of petroleum in a reservoir type not previously proven in the country.

The Deepwater Cape Three Points Block covers approximately 1,454 square kilometers. Planet One operates the acreage alongside GOIL Upstream Ltd., a subsidiary of GOIL PLC, and the Ghana National Petroleum Corp. Planet One and GOIL Upstream established their partnership in 2023 through farm-in and joint operating agreements.

GNPC Chief Executive Kwame Ntow Amoah said the discovery opened a new geological play as Ghana works to replenish reserves and sustain production. He said the next priority was to establish the scale and commercial potential of the hydrocarbons through technical evaluation, with no commercial reserves yet confirmed.

Partners eye next steps

GOIL Group Chief Executive Edward Abambire Bawa said the discovery validated the Ghanaian company’s decision to enter exploration through GOIL Upstream. He described the carbonate play as a new frontier for the country’s petroleum industry, while stressing that further technical work would determine its commercial potential.

Planet One founder and Chairman Sanjeev Mansotra said the discovery represented an important milestone for Planet One and Ghana’s oil and gas industry. He credited the government, the Energy and Green Transition Ministry, the Petroleum Commission, GNPC and GOIL for their support, adding that the company sought to generate jobs, skills and broader economic value.

Planet One Oil & Gas CEO Andaleeb Sehgal said the discovery followed the company’s first deepwater exploration well and reflected extensive technical planning and operational work. He said the carbonate play added a new dimension to exploration in the Deepwater Tano Basin and thanked project partners and contractors.

Ghana’s production challenge

Ghana’s oil production fell 22.7% to 37.3 million barrels in 2025 from 48.24 million barrels a year earlier, highlighting the pressure to develop new resources. Output peaked at 71.44 million barrels in 2019, making reserve replacement and fresh exploration important priorities for the government.

Planet One Oil & Gas is the upstream energy division of Planet One Group, a diversified international business founded and chaired by Indian businessman Sanjeev Mansotra. The group operates across 16 countries, with interests spanning natural resources, education, renewable energy, agriculture and wellness.

Sehgal, who has more than 30 years of experience across the international energy industry, leads Planet One’s oil and gas operations. The next phase of technical evaluation will determine whether Nya Gyidie-1X can support commercial reserves, additional investment and future production in Ghana.