ExxonMobil among 27 companies vying to market Guyana’s oil

Oct 02, 2024 News

Kaieteur  News- Oil giant ExxonMobil and lone Guyanese company – Sispro Inc. are among 27 firms that tendered to provide marketing services for Guyana’s oil from the Liza Destiny, Liza Unity and Payara Prosperity Floating Production Storage and Offloading (FPSO) vessels.

The project which is being executed through the Ministry of Natural Resources was opened on Tuesday at the National Procurement and Tender Administration Board (NPTAB) office.

According to an advertisement issued by the ministry previously, the bidders were bidding in lots and these lots include Lot 1 – Liza Destiny FPSO Vessel, Lot 2 – Liza Unity FPSO Vessel, Lot 3 – Payara Prosperity FPSO Vessel, Lot 4 – Any two (2) Lots combined and Lot 5 – Combined Lots 1, 2 and 3.

It should be noted that on Tuesday, only the names of the bidders and their origins were read by NPTAB, no disclosure on which lot the companies applied for. Majority of the companies that applied are from Switzerland and other companies including Nigeria, USA, and the United Kingdom (UK),

Of the 27 major oil players who bid to market the country’s crude are as follow: Equinor (Norway); Trafigura Pte Limited (Singapore); Oando Plc (Nigeria); Mercuria Energy Trading SA (Switzerland); BP Oil International Limited (UK); BK Holdings Limited (UK); ExxonMobil Sales & Supplies LLC (USA); Petraco Oil Company Limited (Guernsey); Shell Western Supply and Trading Limited (The Bahamas); ADNOC Trading Limited Ltd. (United Arab Emirates); TotalEnergies Trading SA (Switzerland); Chevron Products Company (USA); BB Energy Trading Limited (London);  Cathay Petroleum International Limited (Hong Kong);  APIOIL UK Limited (London); Gunvor SA (Switzerland); Glencore Energy UK Limited (England); Vitol SA (Switzerland);  SOCAR Trading SA (Switzerland); Springfield Energy Limited (Switzerland); Bono Energy Limited (Nigeria); CNOOC Trading (Singapore) Pte. Limited; ENI Trading & Shipping Inc. (USA); PetroChina International (America) Inc. (USA); JE Energy Limited (London);  Unitec America Inc. (USA); and Sispro Inc. (Guyana).

Kaieteur News reported that two United Kingdom companies are marketing Guyana’s oil share.

The Liza Unity FPSO

Minister of Natural Resources, Vickram Bharrat had revealed that UK Company, JE Energy is the marketer of oil coming from the Liza-1 platform which uses the Liza Destiny FPSO, while BB Energy is the marketer for oil from the Liza-2 and Payara platforms which use the Liza Unity and Liza Prosperity FPSOs, respectively.

According to the minister, the contract stipulates that neither of the companies charge government for the marketing and will instead pay, in the case of BB Energy Limited, US 26 cents on every barrel it sells. JE Energy plans to pay some US 70 cents on each barrel of crude it markets.

The Liza Destiny FPSO is currently producing over 150,000 barrels of oil per day (bpd), up by 30,000 after debottlenecking, a process of optimizing capacity. Its storage capacity is 1.6 million barrels. As for the Liza Unity FPSO, it is also producing 30,000 more barrels than had been announced as it moved from 220,000 bpd to 250,000 bpd after the same optimising process. Its storage capacity is some two million barrels.

• ExxonMobil, FPSO, Liza Destiny, National Procurement and Tender Administration Board (NPTAB), Sispro Inc.