Guyana needs marketers to maximize returns from the sales of its growing crude oil production. The government, through the Ministry of Natural Resources, has issued an invitation for bids for the provision of marketing services for its oil entitlement from three offshore oil developments.
These include the Liza Destiny, Liza Unity, and Prosperity platforms. Marketers are invited to bid on one or more of these developments: Lot 1 (Liza Destiny), Lot 2 (Liza Unity), and Lot 3 (Payara Prosperity). Additionally, marketers can bid for Lot 4 (any two of the developments combined) or Lot 5 (a combination of all three developments).
The deadline for submitting bids is set for Tuesday, October 1, 2024, at 9:00 AM, and the new contract is expected to commence in November, following the expiration of the existing contracts with JE Energy and BB Energy. Currently, JE Energy handles the marketing of crude from the Liza 1 platform, while BB Energy manages crude from Liza 2 and Payara.
Together, these developments produce over 600,000 barrels of crude oil daily. The projects are located in the Stabroek Block, which is operated by ExxonMobil.
The next development expected to start production is Yellowtail. It is scheduled for first oil in the second half of 2025.
