Natural Resources Minister Vickram Bharrat says Ghanaian company Cybele Energy must pay a US$17 million signing bonus for the S7 offshore Guyana oil block by the end of July. Bharrat frames the timeline as an “absolute cut-off date,” indicating that the deadline is final and Cybele must settle the payment within that period. Kaieteur News reports the company could risk losing the S7 block if it does not meet the payment requirement by the stated deadline. INews Guyana similarly quotes Bharrat as setting the month-end as the deadline for the US$17 million payment, responding to discussion about payment leniency and clarifying that no further extension is expected beyond the end of July. The announcements establish a specific timeframe for the bonus settlement and link the payment to the continued holding of the S7 block offshore Guyana. No additional details on enforcement steps or alternative deadlines are provided in the reports.
Cybele Energy given end-of-July deadline to pay US$17M S7 oil block bonus
Natural Resources Minister Vickram Bharrat says Ghanaian company Cybele Energy must pay a US$17 million signing bonus for the S7 offshore Guyana oil block by the end of July. Bharrat frames the timeli...
- Natural Resources Minister Vickram Bharrat sets an end-of-July deadline for Cybele Energy to pay a US$17 million signing bonus.
- The deadline is described as a final or “absolute cut-off date.”
- Cybele Energy is the Ghanaian firm awarded the S7 offshore Guyana oil block.
- Reports say Cybele could risk losing the S7 block if the bonus is not paid by the end of July.
- Both outlets cite Bharrat’s announcement as the basis for the timeline.
(Kaieteur News) – Ghanaian company Cybele Energy has been given a final deadline to pay the US$17 million signing bonus or risk losing the S7 block offshore Guyana. Minister of Natural Resources, Vickram Bharrat recently announced that the company has until the end of July to settle the payment. “I say safely, the ending of July […] The post Ghanaian firm given final deadline to pay US$17M signing bonus for oil block appeared first on Kaieteur News.
4 hours agoNatural Resources Minister Vickram Bharrat has set a timeline for the Ghanaian company, Cybele Energy, to pay off the US$17 million signing bonus for the S7 oil block that it was awarded offshore Guyana. “I say safely, the ending of July will be the absolute cut-off date,” Bharrat declared during an appearance on the Starting […] The post US$17M oil block bonus: Month-end is “absolute cut-off date” – Bharrat on Cybele’s payment leniency appeared first on INews Guyana.
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