President John Dramani Mahama announced that the Ghana National Petroleum Corporation (GNPC) and its exploration subsidiary, Explorco, are preparing to drill two new exploration wells by the end of the third quarter of 2026. Speaking at Africa Oil Week in Accra, he emphasized the government’s commitment to collaborating with both current and potential investors to enhance oil and gas exploration in Ghana. Mahama highlighted the significant potential of Ghana’s licensed acreages, particularly in the onshore Voltaian Basin, which he described as an exciting frontier for exploration.
The President referred to the new wells as a “unique farming opportunity” for investors looking to tap into Ghana’s onshore resources. He reaffirmed that under his administration, the upstream sector is open for business, with reforms already attracting renewed interest from major global oil companies. Additionally, he announced a comprehensive review of the Petroleum Exploration and Production Act to align with global industry trends.
To bolster energy security, Mahama noted that GNPC is renegotiating liquefied natural gas agreements to reduce dependence on costly liquid fuels, with LNG expected to be delivered within 18 months. This initiative aims to enhance energy security and lower costs. Furthermore, he outlined plans to expand gas infrastructure, including pipelines and processing plants, to efficiently transport gas to markets. Looking ahead, Mahama expressed his vision of positioning Ghana as a regional petroleum hub, with a focus on natural gas as the primary fuel source for power generation.