Guyana’s Ministry of Natural Resources has invited bids for the provision of marketing services for the country’s oil entitlement from ExxonMobil’s Stabroek Block production. The contract is expected to be awarded late October to early November.
The notice said the objective of the assignment is to competitively market and maximise the value of the government’s crude entitlement from developments in the Stabroek Block and create a competitive market for the Liza, Unity Gold, and Payara Gold blends.
Bidders have up to October 17 to make submissions to the National Procurement and Tender Administration Board (NPTAB).
Previously, BP Oil International Limited beat 13 competitors to a one-year contract to market the crude. BP took over from Aramco Trading Limited, a Saudi Aramco subsidiary, on October 31, 2022.
Crude is currently being produced from the Liza 1 and 2 projects at a combined 381,000 barrels per day (bpd). The production of the Payara blend will commence in the third quarter of 2023 when the Prosperity Floating Production Storage and Offloading vessel comes online.
Guyana’s output is expected to exceed 600,000 bpd by early 2024.
