Cybele Energy, a leading Sub-Saharan African exploration and production company, has signed a Petroleum Agreement with the Government of Guyana to develop Shallow-Water Block S7, marking a historic milestone as the first African-led operator to be awarded an offshore block in the country.

The signing ceremony, held at Pegasus Corporate Suites in Georgetown, also included the issuance of the Petroleum Exploration License for Block S7 and featured remarks from Vickram Bharrat, Minister of Natural Resources, and Beatrice Jones-Mensah Tayui, CEO of Cybele Energy.

The agreement highlights the leadership of Jones-Mensah Tayui, who becomes the first African woman to lead an operating company entering the Guyana basin, reinforcing the growing role of women in the global energy sector.

Under the terms of the agreement, Cybele Energy will provide a US$17 million signing bonus to the Government of Guyana. Minister Bharrat welcomed the company’s entry, emphasizing Guyana’s commitment to attracting world-class operators that prioritize safety, technical innovation, and local content.

“We engage our partners at all levels to participate in CSR activities in our communities and work with government to foster greater local content,” he said.

Jones-Mensah Tayui highlighted the historic significance of an African company, led by a woman, operating in one of the world’s most dynamic petroleum provinces. She reaffirmed Cybele’s commitment to responsible exploration and strong partnerships with Guyana.

“I applaud the leadership and government of this country for providing a platform that showcases the talent of women in the oil and gas industry,” she said.

Block S7 is located approximately 50 kilometers offshore along the same prolific hydrocarbon fairway as ExxonMobil’s Liza 1 and Liza 2 discoveries. Seismic interpretation suggests the block may hold over 400 million barrels of recoverable oil, making it one of the most promising shallow-water opportunities awarded under Guyana’s competitive licensing round.

“Our technical evaluation of Block S7 demonstrates a highly attractive geological setting. The available seismic data shows continuity with the Liza discoveries, some of the region’s most productive wells. Supported by Norway’s Well Expertise, our team is fully prepared to implement a disciplined, safe, and environmentally responsible work programme,” said Segun Jebutu, Lead Geophysicist at Cybele Energy.

Cybele Energy also reiterated its commitment to Guyana’s local content framework and the Petroleum Sharing Agreement (PSA) requirements for training, capacity building, and community development. The company plans to collaborate closely with local institutions and suppliers to support Guyana’s long-term development objectives.

The entry of Cybele Energy into Guyana represents a major milestone for African-owned energy companies on the global stage and strengthens emerging partnerships between Africa, the Caribbean, and South America.