The exploration for commercial oil, both onshore and offshore, continued and intensified during this era.
Seventeen (17) wells were drilled. Two of the wells were onshore, one in the Accra/Keta basin and the other in the Voltaian basin. The Premuase -1 well in the Voltaian basin is so far the only exploratory well in that basin to date. Although the onshore wells were unsuccessful, the stage was then set for more discoveries offshore in the Tano/Cape Three Points basin.
More milestones were attained during this time:
A significant gas discovery was made offshore Cape Three Points by operator Zapata and partner Mobil Oil with the CTP – 1 well. This well was spud on November 1, 1973.
The Saltpond Field came on stream and started producing oil during this time (1978). It was operated by AgriPetco.
The South Tano Oil and Gas Field was discovered by Phillips Petroleum with the 1S – 1X well. The 1S-1X well was spud on July 6, 1978.
The South Dixcove -1X (SD -1X) well which is the first deepwater well was drilled during this period (Nov 1978) by Phillips Petroleum. This well was drilled offshore Cape Three Points in a water depth of 2927 feet.
The Takoradi 6-1 well drilled within the period also encountered good oil and gas shows in the Saltpond basin.
This time, contrary to the previous phases, 2D seismic data was used to map all the offshore and onshore prospects. Gravity data was also used as with the Dzita-1 well in onshore Keta-basin.
Below is the list of wells drilled in the period.