Guyana Signs Petroleum Agreement With Ghana’s Cybele Energy
December 9 2025
The Ministry of Natural Resources this morning signed a petroleum agreement with Ghanaian company Cybele Energy Limited for the exploration and development of offshore Block S7.
Minister of Natural Resources, Vickram Bharrat, welcomed the agreement, describing it as another significant step in the responsible and strategic development of Guyana’s offshore resources.
He said Cybele Energy’s entry into the sector highlights growing international confidence in Guyana’s investment climate and the government’s commitment to transparent, competitive resource management.
Bharrat added that the ongoing licensing round continues to broaden the diversity of operators in Guyana’s offshore basin, strengthening the country’s global partnerships in energy development.
Founder and Chief Executive Officer of Cybele Energy, Beatrice Mensah Tayui, highlighted the moment as a new chapter for the sector, underscoring the importance of increased female representation in an industry where women have traditionally been under-represented.
She commended the Ministry of Natural Resources for a negotiation process she described as exceptionally well-managed, adding that the agreement serves as a symbolic bridge between Guyana and Ghana, strengthened by shared historical and cultural ties.
Tayui affirmed that Cybele Energy will work to justify the trust placed in the company through responsible and high-standard development of Block S7, which holds an estimated 400 million barrels of recoverable oil equivalent.
According to the ministry, the deal represents the second award issued under Guyana’s first competitive licensing round, launched in 2022.
The contract incorporates the government’s modernised fiscal framework, including a 10% royalty, a 10% corporate tax rate, a reduced cost-recovery ceiling, and a 50/50 profit-oil split between the Government of Guyana and the contractor.
These provisions are part of the updated model Production Sharing Agreement aimed at securing greater transparency and long-term value for citizens.
Today’s signing follows the recent award of Block S4 to a consortium of TotalEnergies, QatarEnergy, and Petronas, concluded just weeks earlier.
