Company government officials Ghanaian oil companies Cybele Energy announced on Tuesday, December 9, 2025 the signing of a $17 million agreement. The objective is to explore oil in the shallow waters off the coast of Guyana.

Guyana produces some 900,000 barrels of crude oil by day. This small English-speaking country bordering Venezuela aspires to double that figure. in the years to come. It has the largest oil reserves by inhabitant of the planet. According to the CEO of Cybele Energy, Beatrice Mensah-Tayui, the block of less than 1,500 square kilometers could contain 400 million barrels of oil.

Oil wealth made it possible to quadrupling the state budget in five years ($6.7 billion in 2025) with the highest economic growth in Latin America (43.6% in 2024).

Noted that Guyana is also at the center of a centenary dispute with neighboring Venezuela, which claims sovereignty in the territory of Essequibo, where important oil fields have been discovered.