THE Government of Guyana, through the Ministry of Natural Resources, has issued an Invitation for Bids (IFB) for the provision of marketing services for the country’s oil entitlement from ExxonMobil’s Stabroek Block production.
According to a statement from the Natural Resources Ministry: “The objective of the assignment is to competitively market and maximize the value of the government’s crude-oil entitlement from developments in the Stabroek Block and create a competitive market for the Liza, Unity Gold, and Payara Gold Blends.”
Bids must be submitted no later than 09:00hrs on Tuesday, October 17, 2023, to the Chairman of the National Procurement and Tender Administration Board at the Ministry of Finance, Main & Urquhart Streets, Georgetown.
Last year, BP International Limited was selected to market Guyana’s share of petroleum from the Liza Destiny and Liza Unity floating, production, storage and offloading (FPSO) vessels.
The duration of that contract was 12 months at a marketing price of US$0.00 per barrel. That procurement process was initiated after the contract with Aramco Trading Limited ended.
Guyana’s third FPSO, Prosperity, arrived at the offshore Stabroek Block in April and joins the Liza Destiny and Liza Unity, which are currently producing over 380,000 barrels per day.
It is expected to operate on the Payara project and designed to produce 220,000 barrels of oil per day and has an overall storage volume of two million barrels. Daily oil production is expected to increase to almost 600,000 barrels a day in 2024, with production from the Prosperity vessel boosting Guyana’s annual revenue.