THE Government of Guyana (GoG), through the Ministry of Natural Resources, has announced the award of contracts, through the National Procurement and Tender Administration Board (NPTAB), to market Guyana’s share of crude from the three Floating Production Storage and Offloading (FPSO) vessels.

According to a press release from the Ministry of Natural Resources, the companies that were identified are BB Energy Trading Limited – Liza Unity and Prosperity FPSOs and JE Energy – Liza Destiny FPSO.
The international firms have been selected, following a competitive procurement process that commenced in September 2024 and saw 27 bids being submitted to NPTAB.

“In keeping with the Request for Bids, the evaluation was on a lots basis where the most substantially responsive bidder in relation to the combined lots was determined in keeping with the evaluation criteria,” the Ministry said.
The combined premium per barrel to be received by the government from these two companies for the crudes from these three FPSOs amounts to US$1.85, reflecting a substantial 93 per cent increase compared to the US$0.96 premium secured in the previous period (2023- 2024). The duration of this contract will be for 12 months commencing in 2024.