UK-based BB Energy Trading Limited and JE Energy have secured contracts to market Guyana’s share of crude oil from the country’s three floating production storage and offloading (FPSO) vessels.
The contracts were awarded through a competitive bidding process managed by the National Procurement and Tender Administration Board (NPTAB), the Ministry of Natural Resources announced on Oct. 20.
BB Energy will handle crude from the Liza Unity and Prosperity FPSOs, while JE Energy will market crude from the Liza Destiny FPSO.
The selection followed a procurement process that began in September 2024, with 27 bids submitted. The Ministry explained that the evaluation was based on a “lots” system, with the most responsive bidders chosen for the combined lots, in line with the set criteria.
The government of Guyana will receive a combined premium of US$1.85 per barrel from the two companies, marking a 93% increase from the previous period’s US$0.96 per barrel premium. The contracts will run for 12 months.
BB Energy and JE Energy also won the 2023 bid, when 23 companies competed to market the crude, which had previously been handled by bp.
