Ghanaian energy company, Cybele Energy, has made a groundbreaking move in the energy sector, signing a Production Sharing Agreement (PSA) with the Government of Guyana for the shallow-water offshore Block S7.

This marks a significant milestone as the first African company to secure an oil block in Guyana's offshore basin.

The PSA, signed on December 9, 2025, in Georgetown, Guyana, grants Cybele Energy exploration rights to Block S7, spanning approximately 2,000 square kilometres.

The block is estimated to contain up to 400 million barrels of recoverable oil, subject to further exploration and appraisal.

Under the agreement, Cybele Energy has paid a US$17 million signing bonus to the Government of Guyana.

The contract includes a 10% royalty, 10% corporate tax, and a 65% cost-recovery ceiling, aligning with Guyana's updated model PSA.

Cybele Energy has committed to complying with Guyana's local content framework, investing in the training of Guyanese nationals, and supporting healthcare, infrastructure development, and community initiatives.

"We are honoured to partner with the Government of Guyana and look forward to responsibly advancing exploration activities while creating long-term value for all stakeholders," said Beatrice Mensah-Tayui, Chief Executive Officer of Cybele Energy.

This deal positions Cybele Energy as the first African operator in South America and the Caribbean, and the first woman-led energy company to secure an offshore oil block outside Africa.

The company expects to drill its first exploration well within 12 months, subject to regulatory approvals and completion of environmental and technical studies