Ghana announces new offshore oil discovery, $3.5 billion in gas savings and new upstream investments.
Ghana's President John Dramani of Amaha has announced a new offshore hydrocarbon discovery in the Cape Three Points contract area, describing it as a major step towards reviving exploration and strengthening the country's upstream oil sector, as reported in the media.
Crude oil output has rebounded to more than 120,000 barrels per day, with the partners committing $2 billion in new investments and offshore Cape Three Points partners another $1.5 billion.
Ghana's gas output is expected to increase from about 11.3 million cubic meters per day to nearly 14.2 million cubic meters per day following upgrades to the offshore Cape Three Points facilities, as reported in the media.
Ghana's National Petroleum Corporation, meanwhile, is preparing to drill first exploratory wells in the Voltayne Basin, with drilling expected to begin in the first quarter of 2027.
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