Ghana’s Cybele Energy becomes first African firm to win oil block in Guyana

GEORGETOWN, December 10, 2025 – Ghana’s Cybele Energy has become the first African company to secure offshore acreage in Guyana, the company said on Wednesday.

The Accra-headquartered company signed a USD 17-million exploration deal for shallow‑water Block S7, awarded under Guyana’s first competitive licensing round.

The block lies 50 kilometres from ExxonMobil’s Liza projects and is estimated to hold 400 million barrels of recoverable oil. Drilling of the first exploration well is due within 12 months of the PSA’s effective date.

Block S7 is located outside disputed territorial zones and benefits from 3D-seismic data overlapping the Carapa‑1 area. Cybele Energy expects to produce up to 160,000 bopd from a development concept using eight production wells and onshore early production facilities. The country’s PSA structure includes a 65% cost‑recovery clause for shallow‑water blocks, enhancing the block’s commercial viability.

Cybele Energy is an African‑owned E&P firm with shallow‑water experience across multiple African jurisdictions. Led by president Beatrice Mensah‑Tayui, the company focuses on ESG‑led development, skills transfer and indigenous capacity building. Its technical partners include Norway‑based Well Expertise.

The agreement was signed in Georgetown at a government‑hosted ceremony, supported by legal advisor Africa Legal Associates (ALA), local media reported. ALA advised Cybele Energy through a three‑year licensing and negotiation process.

Accra-based ALA is a full‑service corporate law firm with a pan‑African vision, offering clients in Ghana and beyond commercial legal solutions drawn from its regional knowledge of ECOWAS and the AfCFTA. The firm’s lawyers are qualified to practise in Ghana and England & Wales, allowing ALA to deliver integrated domestic and international legal solutions across sectors including energy, mining, corporate transactions, regulatory compliance, disputes and ESG advisory – making it well‑suited to handle complex upstream deals such as Block S7.

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