Guyana Short-lists 19 Companies to Market Its Oil

Published

Liza FPSO offshore Guyana started producing oil in December 2019 - Credit: Hess
Liza FPSO offshore Guyana started producing oil in December 2019 - Credit: Hess

A group of 19 companies including oil majors, trading houses and state-run firms were approved by Guyana's government for the next phase of a competitive process aimed at selecting an agent for marketing its share of crude produced in the country.

PetroChina Co, Sinochem International, China Offshore Oil, ExxonMobil Corp, BP Plc, Total SA, Royal Dutch Shell, Lukoil, Equinor, Petrobras and trading firms Mercuria Energy, Vitol, Glencore and Freepoint Commodities are among the firms included in the government's short list, Guyana's ministry of the Presidency said on Friday.

A consortium by Exxon, China's CNOOC, and Hess Corp began producing crude offshore Guyana last year after discovering more than 8 billion barrels of recoverable resources, inaugurating the South American nation's output.

Each party is entitled to a portion of production for exports, including the government, which is seeking a third party to help it sell the crude through a 12-month contract as the country has no refineries or national oil company.

The 19-company list also included Hartree Partners, Mercantile and Maritime, Cathay Petroleum, and Petraco Oil.

More than 30 oil firms in April submitted expressions of interest for the contract to market the government's share of crude. 

(Reporting by Luc Cohen in New York City, Writing by Marianna Parraga in Mexico City Editing by Matthew Lewis)

Current News

Equinor’s First Hybrid Power Complex Starts Operations

Equinor’s First Hybrid Power C

Ocean Winds Hires Seaway7 for Offshore Wind Job in Poland

Ocean Winds Hires Seaway7 for

Oman’s Block 50 Offshore Drilling to Advance After $25M Funding Raise

Oman’s Block 50 Offshore Drill

Vissim to Provide Vessel Collision Avoidance System for Qatari Offshore Field

Vissim to Provide Vessel Colli

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine