Ghanaian-owned Cybele Energy has made history by securing a shallow-water offshore oil block in Guyana through a landmark Production Sharing Agreement (PSA) with the Government of Guyana.

The deal marks the first time an African-owned company has been granted offshore petroleum acreage in the South American nation.

Signed on December 9, 2025, the PSA gives Cybele Energy exploration and production rights to Block S7, covering approximately 2,000 square kilometres within Guyana’s rapidly expanding offshore petroleum basin, which one of the world’s most prospective oil provinces.

Preliminary evaluations suggest Block S7 could contain up to 400 million barrels of recoverable oil, pending further seismic acquisition, exploratory drilling, and appraisal programmes.

Government engages Springfield in potential takeover of interests in WCTP2 oil block

Under the agreement, Cybele Energy paid a US$17 million signing bonus to the Government of Guyana. The PSA aligns with Guyana’s updated petroleum framework, featuring a 10% royalty, 10% corporate tax, and a 65% cost-recovery ceiling, balancing investor returns with national benefits.

The company has also committed to full compliance with Guyanese local content legislation, including investments in training, capacity building, healthcare initiatives, infrastructure, and community programmes.

Speaking with the media in Accra on December 16, 2025, Cybele Energy CEO Beatrice Mensah-Tayui described the milestone as significant for both the company and Africa’s role in the global energy sector:

“This agreement represents a significant milestone for Cybele Energy and for African participation in the global upstream sector. We are honoured to partner with the Government of Guyana and look forward to responsibly advancing exploration activities while creating long-term value for all stakeholders,” she noted.

Reflecting on the challenges of being a woman in the traditionally male-dominated oil and gas industry, the CEO mentioned that, “Being one of the few women leading in the upstream oil and gas sector comes with significant challenges. You must be resilient, you must know your craft, and when you do, you enter a no-excuse zone where everything must be based on merit.”

Mensah-Tayui continued, “As women, we do not always get the same support our male counterparts receive. But once you are confident in your knowledge and your performance, your work must speak for itself. Discipline and excellence are non-negotiable.”

Touching on the broader impact of the Production Sharing Agreement for Ghana and Africa, Mensah-Tayui said, “For any woman or girl who has ever doubted what is possible, the time is now. We are in a no-excuse zone. Choose courage, accountability, and excellence. Bloom where you are planted; success is not about location or sector, but about integrity and honouring your word.”

She urged Ghanaian businesses in Guyana to focus on inclusive partnerships.

“Ghanaians should look to doing business in Guyana, but not in the absence of the Guyanese people. Partner with locals who understand the environment. Development must be collaborative, about shared growth, transfer of knowledge, transfer of technology, and respect for Guyana’s local content framework,” Mensah-Tayui concluded.

MA