The Government of Ghana, the Ghana National Petroleum Corporation (GNPC), GNPC Explorco, Shell Overseas Holdings and Chevron Sub-Saharan Africa Ventures have signed a Memorandum of Understanding (MoU) to advance exploration and production activities in the South Deepwater Tano block.
The agreement was signed in Accra at the opening of Africa Oil Week 2026 on September 1, 2026, marking a major step towards unlocking the block’s estimated hydrocarbon potential of more than 3 billion barrels.
The 3,482-square-kilometre block is located in the deep-to-ultra-deepwater Tano Basin off Ghana’s Western Region, with water depths reaching nearly 3.5 kilometres.
The block has already recorded an oil discovery.
In 2019, AGM Petroleum drilled the Nyankom-1X well and discovered oil in two reservoirs. The company subsequently relinquished its interest in the block in 2023.
Under the new MoU, Shell, Chevron, GNPC and GNPC Explorco will work together to appraise the existing discovery and explore the block’s wider oil and gas potential.
Minister of Energy and Green Transition Dr John Abdulai Jinapor referenced the agreement in his address at the conference, describing it as an important development for Ghana’s petroleum sector.
“Today we are going to sign another milestone agreement to advance our oil and gas sector,” he told delegates.
The MoU is expected to provide a framework for the parties to undertake further technical and commercial assessment of the block and determine its potential for future development.
However, details of the respective equity interests of the four parties and the specific work programme were not disclosed at the signing.
The South Deepwater Tano block forms part of Ghana’s broader efforts to attract investment and accelerate exploration in the country’s offshore petroleum basins.
ICYMI | Day 1 at #AOW2026 Ghana took another step towards new upstream exploration opportunities with the signing of an MoU covering petroleum exploration and production rights over the South Deepwater Tano Block. A timely development as Ghana Day gets underway today, with… pic.twitter.com/AIEV0BCiQr
— GNPC Ghana (@GNPCGhana) September 2, 2026 MA