INTERNATIONAL OPERATIONS
Expanding Horizons: Cybele Energy’s Global Footprint
Cybele Energy Limited, a leading Ghanaian oil and gas company, is delighted to announce its successful acquisition of an offshore oil block in Guyana. This milestone reflects our strategic commitment to expanding our operations beyond our home base and establishing a robust presence in high-growth international markets.
Strategic Expansion into Guyana
In December 2022, the government of Guyana, seeking to accelerate its oil production capabilities and attract global investment, opened a bid for 14 offshore oil blocks. This initiative was designed to ramp up the country’s exploration and production activities, with the bidding process being rescheduled multiple times to accommodate thorough evaluations by potential bidders.
Among the competitive field of six companies and consortiums that participated, Cybele Energy emerged as a key player, securing one of the coveted blocks. This achievement underscores our capacity to navigate complex bidding processes and compete effectively in the international arena.
Why Guyana?
Guyana is rapidly becoming a significant player in the global oil and gas industry, known for its substantial offshore reserves and promising exploration opportunities. The acquisition of this block represents a strategic move for Cybele Energy, positioning us to tap into the region’s vast potential and contribute to the country’s burgeoning oil production.
Our Commitment to Excellence
At Cybele Energy, our international operations are driven by a commitment to excellence and sustainable development. We bring to bear our extensive experience, technical expertise, and innovative approach to maximize the potential of our new assets in Guyana. Our focus remains on delivering operational efficiency, ensuring safety, and adhering to the highest environmental standards.
Global Strategy and Local Expertise
Our success in securing the Guyanese oil block is a testament to our global strategy, which combines international vision with local expertise. By partnering with regional stakeholders and leveraging our deep understanding of local conditions, we ensure that our operations are both globally competitive and locally responsive.
Looking Ahead
As we continue to expand our international footprint, Cybele Energy remains dedicated to exploring new opportunities and driving growth in key global markets. The addition of the Guyanese oil block to our portfolio is a significant step in our journey, reflecting our strategic objectives and our ability to deliver value across diverse geographies.
We anticipate further advancements and are committed to contributing to the growth of the global energy sector while upholding our commitment to sustainability and operational excellence.
Previous Operations
Ivory Coast
Cybele was awarded and signed a Production Sharing Contract (PSC) with the government of Ivory Coast for the CI-24 block in April 2014. The block consists of Belier Field, Belier Field Extensions and other accumulations. The main field Belier was discovered in 1974 by Exxon and was produced up until 1992.The most recent activity in the concession was in 2007 and 2010 when two explorations wells were drilled by Edison SPA and these encountered hydrocarbons.
Cybele Energy is currently putting working on a Field Development Plan (FDP) which is aimed at rejuvenating the main Belier Field and in bringing the Belier Field Extension into production. The Belier field involves choosing wells to re-enter from the available 38 Wells and a detailed well and platform abandonment thereafter.
Schlumberger was the main partner in this project.
Gabon
Cybele Energy has been present in Gabon and sought unsuccessfully Acquire VAALCO Deep water operations in 2017.
Cybele Energy also worked with Stream Oil Owali for the FDP of the Owali project (planned 29 wells in 5 years and production from 500 to 16,000 BOPD) and is currently in negotiation for the operatorship of the EF4F5 gas condensate onshore development for Electricity generation in the country.
Nigeria (Goldmark Resources)
Field Development Plan and management of the Dubri Onshore concession OML 96 (Gele Gele) into production and subsequent LNG expansion project beginning 2021.
Collaboration with Spring Rock Energy on the Britannia U field development plans and turnkey drilling of infill wells OML 90.
Niger
Cybele Energy has been in an advisory position with the National oil company to help them manage a difficult introduction into the Oil and Gas sector. This led to contractual and operational reviews that benefitted the nation and Cybele also applied for 4 Land concessions.
United States / Trinidad (New Horizon Global)
Cybele Energy has been working with New Horizon global in The United States and Trinidad (Aqua & Oil and gas).
New Horizontal is proficient and proactive drilling contractor and Operator with 30+ years’ experience in the US, Colombia and Trinidad. In the US they have worked on challenging project in California and West Texas including pioneer drilling horizontal wells in these tight plays.
New Horizon is in JV (20 Years) and operates the Parrylands and Guapo blocks in Trinidad (142 wells) and is starting a carbon sequestration project this year in Trinidad.
Cybele is raising finance for New Horizon’s Christmas tree project South of Dallas since December 2020.
Cameroon / Liberia / Sierra Leone
Cybele Energy has been consultant analysts to understand the unsuccessful takeoff of the oil industry in these countries and the failure of subsequent bid round (in partnership with First Geo of Norway).
The finding helps in operational restructure to reflect the true operating cost via recommended drilling and Completion practices.
Unites States / University of North Dakota
Developed a Local training curriculum with the University of North Dakota for achieving the development of Competencies in Ghana.
Unites States / MOLGROUP
Has currently applied for the relinquished Salt Pond Basin Block in partnership with the MolGroup.