Cybele Energy, a premier Sub-Saharan African exploration and production company, today signed a Petroleum Agreement with the Government of Guyana for the development of Shallow-Water Block S7.
The signing marks a historic moment as Cybele becomes the first African-led operator to be awarded an offshore block in Guyana. The agreement also highlights the leadership of Cybele’s CEO, Beatrice Jones-Mensah Tayui, who becomes the first African woman to lead an operating company entering the Guyana basin.
The ceremony, held at Pegasus Corporate Suites in Georgetown, also saw the issuance of the Petroleum Exploration License for the Block and featured remarks from Hon. Vickram Bharrat, Minister of Natural Resources, and BeatriceTayui, Chief Executive Officer of Cybele Energy. The agreement strengthens South–South cooperation and adds new diversity to the cohort of operators participating in Guyana’s rapidly expanding offshore sector.
Under the terms of the agreement, Cybele Energy will provide a $17 million signing bonus to the Government of Guyana.
Minister Bharrat welcomed Cybele Energy’s entry into Guyana’s industry, highlighting the country’s commitment to attracting world-class operators who prioritise safety, technical innovation, and local content. “We engage our partners at all levels to be involved in CSR activities in our communities and work along with us in government promoting and fostering greater local content,” Bharrat added.
In her remarks, Mrs. Jones-Mensah Tayui underscored the significance of an African company, and one particularly led by a woman, participating in one of the world’s most dynamic petroleum provinces and reaffirmed Cybele’s commitment to responsible exploration and meaningful partnership with Guyana.
She noted that the agreement, which advances the historic ties between Ghana and Guyana, marks the dawn of a new era for women. “I want to applaud the leadership and government of this country that sees it fit to put the talent of women on the platform in such an industry as oil and gas,” she added.
Block S7 is situated approximately 50 kilometers offshore and lies along the same prolific hydrocarbon fairway as ExxonMobil’s Liza 1 and Liza 2 discoveries. Current seismic interpretation suggests the block may contain over 400 million barrels of recoverable oil, positioning it among the most promising shallow-water opportunities awarded under Guyana’s competitive licensing round.
“Our technical evaluation of Block S7 demonstrates a highly attractive geological setting. The available seismic data shows continuity with the same fairway that feeds the Liza discoveries, which are among the most productive wells in the region. With support from Norway’s Well Expertise, our team is fully prepared to implement a disciplined, safe and environmentally responsible work programme,” said Segun Jebutu, Lead Geophysicist at Cybele Energy. “We are confident that the exploration potential of this block is significant and look forward to advancing the next phase of technical assessment.”
Cybele Energy reiterated its commitment to Guyana’s local content framework and the PSA’s requirements for training, capacity building, and community development. The company plans to work closely with local institutions and suppliers to support Guyana’s long-term development goals.
Cybele’s entry into Guyana also represents an important milestone in the global expansion of African-owned energy companies and strengthens emerging partnerships between Africa, the Caribbean, and South America.
