Ghanaian Company, Cybele Energy wins oil block bid in Guyana

Cybele Energy Limited, a leading player in the oil and gas industry in Ghana and Africa, in partnership with Liberty Petroleum and other Guyana Local Partners in the oil and Gas sector, has won a bid for Block S3 and S7 in the Guyana shallow waters blocks.

The Ghana Chamber of Commerce Guyana (GCCG) and Cybele’s transaction consultants, ALA Strategic Consult Ltd (Guyana) assisted Cybele Energy Limited’s bid for the oil blocks in Guyana.

The consortium together with its technical partner; Well Expertise, aims to leverage the unique strengths of each entity to unlock innovation, effectiveness, efficiency, and technological advancement by combining their expertise, resources, and market insights to create a synergistic partnership that will serve the utmost interest of all stakeholders as well as the government of Guyana.

The South American country (Guyana), opened bids for 14 offshore oil blocks available for exploration and development in December 2022, in a bid to ramp up its oil production.

Six companies and groups submitted bids for the available blocks after the bidding process was postponed three times to provide more time for interested parties to evaluate the blocks’ data.

After completing the evaluation of the bids submitted for eight of the 14 oil blocks, the Government of Guyana awarded eight of the blocks to six different companies, including Cybele Energy Limited, led by its CEO, Beatrice Mensah-Tayui.

This was announced by Guyana’s Vice President, Dr. Bharrat Jagdeo on Thursday, October 26, 2023. The list of the companies and blocks is as follows:

S3: Sispro Inc., a company headed by four Guyanese businesswomen

S4: Total Energies EP Guyana BV; Qatar Energy International E&P LLC; Petronas E&P Overseas Ventures SDN BHD (Malaysia)

S5: International Group Investment Inc., a Nigerian group

S7: Liberty Petroleum Corporation of the US and Ghana-based Cybele Energy Limited

S8: ExxonMobil, Hess, and CNOOC consortium currently operating in the Stabroek Block offshore

S10: International Group Investment Inc.

D1: Delcorp Inc Guyana and Watad Energy and Arabian Drillers of Saudi Arabia, two Saudi Arabian companies that are incorporated

D2: Sispro Inc.

Cybele Energy

Cybele Energy Limited is a leading Sub-Saharan African Oil and Gas Exploration, Production and Integrated Services company focused on frontier and emerging markets in Sub-Saharan Africa and other parts of the world. Cybele Energy was the owner of Block C124 in lvory Coast.

Liberty Petroleum

Liberty Petroleum Corporation is a US based privately held company with an International focus. The company span the globe searching for high impact exploration opportunities that are material enough to attract world class operating partners.

Since its inception in 1997 it has acquired over 17 distinct exploration blocks worldwide. In the process of exploration and development
of these opportunities, Liberty commits itself to business activities that are conducted in a responsible and sustainable manner, while upholding the highest standards of ethics and business practice.

To date, Liberty has facilitated over US$1.7 billion dollars in exploration and development work program expenditures resulting in numerous discoveries.