The Government of Guyana, sometime between today and tomorrow, will be getting its first entitled oil lift from the Liza Unity FPSO, which started production in the Stabroek Block offshore Guyana in February last.
Liza Unity – Guyana’s second FPSO – has the capacity to produce 220,000 barrels per day. This is nearly double the 120,000 bpd being produced at the Liza Destiny FPSO, which is also slated to have its second oil lift for this year sometime now.
See below for today’s full statement from the Ministry of Natural Resources:
The Government of Guyana will be receiving its first entitlement lift of the Unit Gold crude from the Liza Unity Floating Production Storage and Offloading (FPSO) production platform during the period of April 23rd to 24th. The usual lifting entitlement amount of one million barrels of oil (1MMBBls) will be loaded onto the vessel MV DIMITRIOS by the terminal operator.
The first cargo of Guyana’s lifting entitlement was sold to ExxonMobil Sales and Supply LLC following a competitive bidding process by the five (5) companies, inclusive of the covertures of the Stabroek Block. The ExxonMobil affiliate bid was the best on the pricing differential for the crude and this lift will incur no marketing fee by the lifter. This lift is a one-off arrangement for the company.
The GoG will be working to ensure that Guyana receives the best price for each cargo from both the Liza and Unity Gold crudes. The forecasted price for this first lift of the Unit Gold crude for Guyana is US$106 per barrel.
