Africa Legal Associates (ALPi Ghana) has announced the successful signing of the Petroleum Agreement and the issuance of the Petroleum Exploration License for Shallow Water Block S7 to Cybele Energy Ltd., led by its president, Beatrice Mensah-Tayui, at a ceremony held today at the Pegasus Hotel in Georgetown, Guyana.
This landmark development makes Cybele Energy the first African company in history to be awarded an oil block in Guyana and, from our checks, the first African operator to secure such a licence anywhere in both South America and the Caribbean.
It represents a remarkable triumph not only for Ghana but also for the African continent and for African women in global enterprise.
It further strengthens the rapidly growing economic and diplomatic ties between Ghana and Guyana and advances the broader vision of enhancing Africa–Caribbean commercial cooperation.
A Three-Year Journey of Legal, Commercial and Strategic Work
Africa Legal Associates has been counsel to Cybele Energy since December 2022, when the Government of Guyana launched the competitive bidding process for 14 offshore blocks (11 shallow water and 3 ultra-deep water).
Of the eight blocks ultimately awarded, Cybele Energy secured Block S7, one of the highly prospective shallow-water blocks adjacent to major producing fields.
The firm’s work has been delivered in close collaboration with its Guyana affiliate, ALA Strategic Consult Guyana Ltd., and the Ghana Chamber of Commerce Guyana, both led by Stanley Armartefio Jr.
Together, the teams have supported Cybele Energy from bid preparation, due diligence, negotiations, and regulatory engagements through to this historic signing ceremony.
“Working with Ms Mensah-Tayui and her committed team over the years has been an enriching experience, and we look forward with optimism to the next phase of exploration and development on Block S7,” Nana Adjoa Hackman, Managing Partner of ALA, explained.
About Block S7: One of Guyana’s Most Promising Shallow-Water Prospects
Block S7 lies within the prolific Guyana offshore basin, positioned along the same geological fairway that hosts the world-class Liza 1 and Liza 2 discoveries and adjacent to Repsol’s Carapa-1 find. According to Cybele Energy’s technical analysis:
- Block S7 may hold up to 400 million recoverable barrels of oil.
- Production potential is estimated at up to 160,000 barrels per day from a development concept of approximately eight production wells, supported by water and gas injector wells.
- Given its shallow-water location (100 km offshore), the development may utilise an onshore early production facility (EPF), reducing costs compared to deepwater FPSO-led developments.
- Under Guyana’s Production Sharing Agreement, shallow-water operators benefit from a 65% cost-recovery provision, enhancing commercial returns.
- The project includes significant local content and CSR commitments, from training and logistics infrastructure to potential investments in healthcare, housing, and offshore service capability, all designed to deliver enduring value to the people of Guyana.
According to the senior partner at Africa Legal Associates (ALPi Ghana), “Today’s signing is more than a commercial achievement; it is a continental milestone.”
He added that Cybele Energy’s success affirms what African companies and African women leaders can accomplish on the global stage when determination, expertise and partnership come together.
“We are honoured to have walked this path with Cybele Energy from the beginning and look forward to supporting the next phase of exploration and development in Guyana,” Gabby Asare Otchere-Darko, ALA’s Senior Partner, said.
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