EXPLORCO, the exploration arm of Ghana’s national petroleum corporation, is set to make history with its first exploration well in the untapped Voltaian basin in Q1 2026, marking the first drilling activity in the region since 1974.
“We will go ahead with the Voltaian project because it is a key project for the country,” said Michael Aryeetey, Managing Director of EXPLORCO, during the Invest in African Energies briefing in Accra on April 14. “Because there is so much to do in the basin, the strategy is to invite other partners to explore and drill. We are looking for credible partners.”
Ghana’s energy officials emphasized the country’s renewed investment potential, with Deputy Minister Richard Gyan-Mensah declaring, “To investors, Ghana is open for business. There are vast unlicensed blocks offshore available through direct negotiations and partnership opportunities.”
The country is enhancing its regulatory and fiscal environments to boost upstream investment and combat the 25% production decline seen since 2019. Current priorities include increasing production at the active Jubilee and TEN fields, which contain 640 million barrels of oil and 1.2 trillion cubic feet of gas.
“Ghana is back, ready for investment and ready for energy dominance,” said NJ Ayuk, Executive Chairman of the African Energy Chamber.
Source: World Oil
