Accra, Ghana – Ghanaian-owned energy company Cybele Energy Ltd is poised to expand its international operations by signing an agreement to explore for oil in a shallow-water block off the coast of Guyana.
The signing ceremony is scheduled for Tuesday, December 9, 2025, and was confirmed by Guyana’s Minister of Natural Resources, Vickram Bharrat, during a briefing ahead of the 5th Guyana Energy Conference and Supply Chain Expo, set to take place from February 17–20, 2026.
Under the agreement, Cybele Energy will secure exploration rights for Block S7, an offshore concession spanning approximately 2,000 square kilometers. Minister Bharrat noted that negotiations are in the final stages, with only administrative matters remaining before the formal signing.
The fiscal terms of the agreement include:
- 10% royalty
- 10% corporate tax
- 65% cost recovery ceiling
- 17.5% profit oil each for the Government of Guyana and Cybele Energy
Local media reports indicate that this will be Guyana’s second shallow-water exploration agreement in recent months, following a similar deal with TotalEnergies, Petronas, and Qatar Energy.
Founded in 2012, Cybele Energy is led by CEO Beatrice Jones Mensah-Tayui, a notable Ghanaian business leader. The upcoming agreement marks a significant milestone for Ghanaian participation in the global oil and gas industry and highlights the increasing influence of Ghanaian energy firms on the international stage.
Source: Citinewsroom.com
.jpeg)
.jpeg)
0 Comments