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Thursday, May 13, 2021

Guyana lifts its 6th million-barrel oil cargo, next shipment could be affected by drop in production

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The Guyana government exported another million-barrel oil cargo this week from the Liza Destiny FPSO even as production was reduced from 120,000 barrels of oil per day (bpd) to around 30,000 bpd due to additional issues encountered with the gas compressor system on the vessel.

Natural Resources Minister, Vickram Bharrat confirmed to OilNOW on Wednesday that the 6th lift was in keeping with the standard approximate million-barrel volume for each export but signaled that there might be an adjustment for the next lift, due to the drop in oil production.

“It may affect the 3rd lift for 2021,” Bharrat said.

Brent crude was trading just over $60 this week, climbing higher on Wednesday to around $64.

In an update on Tuesday, ExxonMobil Guyana said as the final testing phase of the reinstalled flash gas compressor and other components of the system on the Liza Destiny FPSO was being conducted, an additional problem with the discharge silencer was encountered.

“A team from SBM Offshore, MAN Energy Solutions and ExxonMobil are on site to assess repairs, with support from engineering experts in Europe and the USA,” Public and Government Affairs Advisor, Janelle Persaud said. “We have reduced production to a minimum level that mitigates formation of hydrates in subsea systems, maintains gas injection and fuel gas to the power generators, and minimizes flare.”

ExxonMobil said relevant government agencies have been notified and the company is continuing to work with officials to determine the next best steps.

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