ANY day now, China’s state-controlled oil company CNOOC Ltd is scheduled to load its first million barrels cargo of crude from offshore Guyana.

Reuters in an article last week stated that Director of Energy Dr Mark Bynoe confirmed that the New Melody tanker was expected in just a few days. According to Refinitiv Eikon data, the tanker is expected arrive around March 24, 2020.

It will load up to 1 million barrels of sweet, light Liza crude for CNOOC when it arrives at the consortium’s Floating Production, Storage and Offloading vessel (FPSO).
“The very large crude carrier (VLCC), with a capacity of around 2 million barrels, departed Colombia’s Covenas port on Wednesday evening after loading around 1.1 million barrels, the data show,” Reuters stated.

ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) is operator and holds 45 per cent interest in the Stabroek Block. Hess Guyana Exploration Ltd holds 30 per cent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 per cent interest.

The companies began production in December and have discovered more than 8 billion barrels of recoverable resources, which could transform Guyana’s economy.