Guyana to get US$106 per barrel of oil for April 23-24 lift

The Government of Guyana will be receiving its first lift of the Unit Gold crude from the Liza Unity Floating Production Storage and Offloading (FPSO) production vessel on Saturday, April 23 – Sunday, April 24, 2022. The Liza Unity is the second FPSO in operation offshore.

According to a statement, the forecasted price for this lift is US$106 per barrel. The one million barrels of oil are being 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 Government noted that 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 and will be loaded onto the vessel MV DIMITRIOS by the terminal operator.

The government pledged all efforts to ensure that Guyana receives the best price for each cargo from both the Liza and Unity Gold crudes.

ExxonMobil’s ongoing offshore exploration in Guyana has discovered a recoverable resource of more than 10 billion oil-equivalent barrels. The company anticipates up to 10 projects on the Stabroek Block to develop this resource.

Currently, the company’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) is seeking approval for its fifth development project –Uaru –on the Stabroek Block offshore Guyana. ExxonMobil Guyana President Alistair Routledge made this disclosure two days after the company received approval for its Yellowtail project.