Ghanaian-owned energy firm Cybele Energy Ltd is set to make a major stride on the international stage as it prepares to sign an agreement to explore for oil in a shallow-water block in Guyana.
The deal, expected to be concluded next Tuesday, December 9, was confirmed by Guyana’s Minister of Natural Resources, Vickram Bharrat, on Friday.
The agreement will grant Cybele Energy the rights to explore for hydrocarbons in Block S7, a concession covering an estimated 2,000 square kilometres offshore Guyana.
“Cybele has advanced the negotiation with us to a stage where we have finalised the agreement with them, and that is the company we’ll be signing with,” Mr. Bharrat told journalists during a briefing ahead of the 5th Guyana Energy Conference and Supply Chain Expo, scheduled for February 17–20, 2026.
He noted that the fiscal terms of the deal remain unchanged:
10% royalty
10% corporate tax
65% cost recovery ceiling
17.5% profit oil each for the Government of Guyana and the company
He added that the only outstanding matters were administrative, and details would be made public at the signing ceremony next week.
According to a report by demerarawaves.com, the upcoming signing will be the second shallow-water exploration agreement Guyana has concluded in recent months. The first was sealed last month with oil giant TotalEnergies and its partners Petronas (Malaysia) and Qatar Energy.
Cybele Energy, established in 2012, is led by its founder and Chief Executive Officer, Beatrice Mensah-Tayui, a Ghanaian business leader with growing global influence in the energy sector.
The forthcoming agreement marks another significant milestone for Ghanaian participation in the international oil and gas industry.
