Cybele Energy chief executive officer Beatrice Mensah-Tayui has called on Ghanaian companies to partner with Guyanese businesses, urging cross-border collaboration as Guyana emerges as the world’s fastest-growing economy.
Mensah-Tayui made the call at a press conference in Ghana on December 16, a week after signing a petroleum agreement with the Government of Guyana for the offshore Block S7, a shallow-water asset awarded to her company. The agreement was signed on December 9 in Georgetown with the Ministry of Natural Resources and includes a US$17 million signing bonus.
“If we as Ghanaians can go to Guyana, partner with the Guyanese people, and it doesn’t matter how small the business will be… that collaboration is what leads to continuous growth,” Mensah-Tayui said.
Mensah-Tayui urged cooperation across sectors such as energy services, technology, and healthcare, alongside the need for capacity building in both countries.
“So I stand in this gap as a bridge, holding hands on both sides to say the time is now. Let’s look to Guyana as a positive country to do business with. South America is not too far,” she said.
Cybele estimates that Block S7 could hold about 400 million barrels of recoverable oil, but exploration will be required to confirm the resource. Cybele Energy is the first African-led operator to secure an offshore block in the country and the first woman-led exploration and production company to obtain an oil license outside of Africa.
Guyana, which began oil production in late 2019, has recorded rapid economic expansion driven by offshore developments led by ExxonMobil and its partners.
