Ghanaian energy company Cybele Energy Limited has officially launched oil exploration activities in the Cooperative Republic of Guyana, marking a historic expansion into South America with the acquisition of a landmark offshore licence.
At a signing ceremony held earlier this year in Georgetown, Cybele Energy’s Founder and Chief Executive Officer, Mrs. Beatrice Jones-Mensah Tayui, signed a Petroleum Sharing Agreement (PSA) and Petroleum Exploration Licence (PEL) with the Government of Guyana. The agreement grants Cybele the rights to explore Shallow-Water Block S7, awarded under Guyana’s first competitive licensing round.
The deal includes a US$17 million signing bonus and positions Cybele Energy as both the first African-led and the first woman-led energy company to secure an offshore oil block in Guyana’s prolific basin.
“This is more than a business milestone—it’s a symbol of strengthened South–South cooperation,” Mrs. Mensah-Tayui said at a press briefing in Accra on Tuesday, December 16. “I urge women everywhere not to hesitate in pursuing ambitious professional goals. We are proud to represent Ghana and Africa on this global stage.”
Under Guyana’s updated fiscal regime, the agreement includes a 10% royalty, 10% corporate tax, and a 50:50 profit oil split after cost recovery—terms that reflect the country’s evolving strategy to attract responsible global investment.
Block S7 lies approximately 50 kilometres from ExxonMobil’s Liza Phase 1 and 2 fields and is estimated to hold around 400 million barrels of recoverable oil equivalent, based on current seismic data. Cybele Energy plans to conduct new 3D seismic surveys and expects to drill its first exploration well within 12 months of the PSA’s effective date.
Dr. John Appiah, Head of Mission for the Commonwealth Enterprise and Investment Council, praised the achievement as a turning point for African participation in the global energy sector.
“Cybele Energy is not only the first African company to secure an offshore oil block in Guyana, but also the first woman-led energy company to do so outside Africa,” Dr. Appiah noted. “This is not the continuation of a long trading history—it is the beginning of a new one, a relationship moving from limited exchange to strategic partnership.”
He added, “On behalf of the Commonwealth Enterprise and Investment Council, I commend the governments of Guyana and Ghana, Cybele Energy, and all stakeholders for their leadership and foresight.”
Also present at the ceremony was Dr. Emmanuel Kojo Jones Mensah, CEO of Empire Domus Group Ltd, who described the agreement as a “bridge between emerging energy frontiers.”
“To the government and people of Guyana, we commend your confidence, your openness, and your commitment to long-term value creation,” he said. “To the government of Ghana, thank you for providing an enabling environment that allows Ghanaian companies to expand and compete globally.”
Founded in 2012 and headquartered in Accra, Cybele Energy has evolved from a regional player into a diversified energy group with operations across Africa, the United States, the Caribbean, and now South America. Its business spans Exploration & Production, Engineering, and Aqua divisions, with a growing reputation for innovation and inclusive leadership in the energy sector.
By Eric Bekoe (KOB)
