Beatrice Mensah-Tayui, CEO of Cybele Energy
Cybele Energy Limited is set to commence exploration activities in Guyana following the award of offshore Block S7 under the country’s inaugural competitive petroleum licensing round launched in 2022.
Chief Executive Officer of Cybele Energy, Beatrice Mensah-Tayui, said the company is now transitioning into the exploration phase after signing a Production Sharing Agreement (PSA) with the Government of Guyana. Speaking to the media in Ghana on Tuesday, 16 December, she explained that initial work will focus on technical and scientific assessments to determine the block’s hydrocarbon potential.
“Now that the agreement has been signed, the next stage is to begin the exploration process,” she said. “Our geology and geophysics team will start with the first phase of work, which involves analysing seismic data to understand the profile of the block.”
Ms. Mensah-Tayui noted that the pace and sequencing of activities will be guided by scientific findings rather than fixed timelines. According to her, the availability and interpretation of seismic data will determine subsequent steps in the exploration programme.
“The timelines are determined by the science. The data tells you what to do next and when to do it,” she explained.
The offshore Block S7 agreement incorporates modernised fiscal terms aimed at maximising national benefits for Guyana. These include a 10 per cent royalty, a 10 per cent corporate tax rate, a reduced cost-recovery ceiling and a 50/50 profit-oil split between the Government of Guyana and Cybele Energy, in line with Guyana’s updated model Production Sharing Agreement.
Beyond exploration, the Cybele Energy CEO emphasised the importance of collaboration and local content in the company’s operations in Guyana. She encouraged partnerships with Guyanese firms, stressing that sustainable development in the energy sector must be anchored in knowledge transfer, technology sharing and mutual respect.
“Ghanaians looking to do business in Guyana should do so in partnership with the Guyanese people. Development should be collaborative and inclusive,” she said.
Ms. Mensah-Tayui also described the Block S7 award as a milestone in Ghana–Guyana relations, saying it represents a growing partnership between two countries with shared aspirations for economic transformation.
The award of Block S7 to Cybele Energy follows closely on the award of offshore Block S4 to a consortium of TotalEnergies, QatarEnergy and Petronas, reflecting strong international confidence in Guyana’s offshore basin, which is regarded as one of the most prolific oil provinces globally.
Cybele Energy’s entry into Guyana’s upstream sector adds to the expanding pool of operators participating in the country’s oil and gas industry, as the government continues to pursue a transparent and competitive approach to offshore resource development.
