Cybele Energy Limited says its immediate focus following the award of a Petroleum Sharing Agreement (PSA) for an oil block in Guyana will be the assessment and interpretation of existing seismic data, as it prepares to advance exploration activities on the block.
The company is set to commence work on its shallow-water offshore Block S7, marking a major milestone as Cybele Energy becomes the first African-owned company to secure an oil block in Guyana’s upstream petroleum sector.
Speaking to Citi Business News on the sidelines of a press conference in Accra to commemorate the signing of the exploration agreement between the Co-operative Republic of Guyana and Cybele Energy, Chief Executive Officer Beatrice Jones Mensah-Tayui said seismic evaluation will guide all subsequent technical and investment decisions.
“Now that the agreement has been signed, the next stage is to begin the exploration process,” she explained. “Our geology and geophysics team will start by analysing seismic data to understand the block profile. The timelines will be determined by the quality and nature of the data, because in exploration, the science largely determines your next steps.”
She noted that acquiring and interpreting seismic data represents the first key milestone under the work programme, adding that the company is also obligated to drill a firm exploration well within the first exploration period.
“The first milestone is seismic acquisition and interpretation, and then, based on that, we move toward meeting our obligation of drilling a firm well during the initial phase,” she said.
Ms. Mensah-Tayui said the development presents new opportunities for Ghanaian businesses and professionals, calling for stronger Ghana–Guyana collaboration in the oil and gas value chain.
She emphasised that while Guyana remains open for business, investors must respect the country’s local content framework.
“Ghanaians should look to doing business in Guyana, but not in isolation from the Guyanese people,” she said. “Partnership is key. Collaboration allows for knowledge transfer, technology sharing and sustainable development that benefits both sides.”
She added that working closely with local partners would ensure compliance with local content laws while creating long-term value.
Also speaking at the event, Head of Mission of the Commonwealth Enterprise and Investment Council, Dr. John Apea, said the oil block acquisition could mark the beginning of deeper trade and investment relations between Ghana and Guyana.
“What we are witnessing here is not the culmination of a long trading history, but the beginning of a new one,” he stated.
The move positions Cybele Energy as a trailblazer for African participation in Guyana’s fast-growing oil and gas sector, while opening new pathways for cross-border investment and collaboration.