Ghanaian energy company Cybele Energy Ltd is poised to take a significant step onto the global oil and gas scene as it readies to sign a deal to explore a shallow-water oil block in Guyana.
Guyana’s Minister of Natural Resources, Vickram Bharrat, confirmed on Friday that the agreement is expected to be finalized on Tuesday, December 9.
Once signed, the contract will give Cybele Energy exploration rights in Block S7 — a shallow-water concession spanning roughly 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 reporters during a press briefing ahead of the 5th Guyana Energy Conference and Supply Chain Expo slated for February 17–20, 2026.
He explained that the fiscal terms remain the same as previously outlined:
- 10% royalty
- 10% corporate tax
- 65% cost recovery ceiling
- 17.5% profit oil each for the Government of Guyana and the company
Bharrat added that only administrative items were left to be completed, with full details expected at the signing ceremony next week.
As reported by demerarawaves.com, the upcoming agreement will be the second shallow-water exploration deal Guyana has reached in recent months. The first was concluded last month with TotalEnergies and its partners Petronas of Malaysia and Qatar Energy.
Cybele Energy, founded in 2012, is headed by its Chief Executive Officer and founder, Beatrice Mensah-Tayui, a Ghanaian entrepreneur who continues to grow her influence in the global energy landscape.
The impending signing represents another major milestone for Ghana’s expanding footprint in the international oil and gas sector.
