The South American country 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.