UK’s BP International Limited to market Guyana’s share of oil
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The Liza Destiny FPSO vessel
The Liza Destiny FPSO vessel

THE Government of Guyana, through the Ministry of Natural Resources, has announced that BP International Limited of the United Kingdom (UK) has been selected to market Guyana’s share of oil from the Liza Destiny and Liza Unity floating production storage and offloading (FPSO) vessels.

The Ministry of Natural Resources had publicly issued its Request for Bids on September 16, 2022, with October 11, 2022, as the submission deadline. Some 14 bids were submitted to the National Procurement and Tender Administration Board (NPTAB).

The procurement board appointed an Evaluation Committee, and that committee recommended, as part of its evaluation report, that BP International be awarded the contract.

That report was cleared by NPTAB, and received the Cabinet’s ‘no objection’.

The duration of this contract will be 12 months at a marketing price of US$0.00 per barrel. This procurement process was initiated after the contract with Aramco Trading Limited ended.

The services to be provided by the marketer include:

? Providing support and guidance to the Government of Guyana in all operating and back-office responsibilities of managing the crude sales, and each individual lift whilst facilitating timely and cost-effective crude operations;

? Supporting the government in the continued introduction of the grade to multiply geographies and refinery systems, and provide benchmark and performance comparisons of prices paid for Guyana’s crude;

? Working closely with the government to understand the behaviour and yields of the Liza blend, and how these can affect pricing differentials.

“The Guyana Government will continue to employ transparent and international best practices in the management of the nation’s petroleum resources, so as to attain maximum returns and advance the livelihoods of all citizens,” the Ministry of Natural Resources said in closing.

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