BY Issah Olegor
Cybele Energy Ltd., a Ghanaian-owned energy company led by its President, Beatrice Mensah-Tayui, has secured a place in global petroleum history by becoming the first African company to be awarded an oil block in Guyana—and, by available records, the first African operator to obtain such a license anywhere in South America or the Caribbean.
The landmark Petroleum Agreement and Exploration License for Guyana’s Shallow Water Block S7 were formally signed at a ceremony held at the Pegasus Hotel in Georgetown, marking a major milestone for African participation in the Western Hemisphere’s booming offshore oil sector.
This achievement crowns a three-year journey of legal, commercial, diplomatic, and technical efforts spearheaded by Africa Legal Associates (ALPi Ghana), which has served as Cybele Energy’s counsel since December 2022.
The work began when Guyana opened an international competitive bidding round for 14 offshore blocks—11 shallow-water and three ultra-deep-water—at a time when the South American country was emerging as one of the world’s most attractive petroleum frontiers.
Of the eight blocks eventually awarded, Cybele Energy won Block S7, one of the most prospective shallow-water blocks positioned close to existing production fields and major discoveries.
The legal and advisory journey was undertaken in partnership with ALA’s Guyana affiliate, ALA Strategic Consult Guyana Ltd., and the Ghana Chamber of Commerce Guyana, both led by Stanley Armartefio Jr.
The teams supported Cybele from bid preparation and due diligence through negotiations, regulatory engagements, and the final signing.
“Working with Ms. Mensah-Tayui and her committed team over the years has been an enriching experience,” said Nana Adjoa Hackman, Managing Partner of ALA, expressing optimism for the next phase of exploration.
Block S7 sits within the prolific Guyana Basin, part of the same geological corridor that hosts the world-class Liza 1 and Liza 2 discoveries and lies adjacent to Repsol’s Carapa-1 find.
Technical studies by Cybele Energy suggest the block may contain up to 400 million recoverable barrels of oil, with potential daily production reaching 160,000 barrels. The company’s development concept proposes up to eight production wells supported by water and gas injection systems. Owing to S7’s shallow-water characteristics—about 100 kilometres offshore—the project could use a cost-saving onshore Early Production Facility instead of a deep-water FPSO platform.
Under Guyana’s Production Sharing Agreement, shallow-water operators also enjoy a favourable 65% cost-recovery provision, significantly boosting commercial viability.
