The Guyana government says it has received its first entitlement lift of the Unit Gold crude oil from the Liza Unity Floating Production Storage and Offloading (FPSO) production platform.
It said that the forecasted price for this first lift of the Unit Gold crude for Guyana is US$106 per barrel
A government statement said that the usual lifting entitlement amount of one million barrels of oil had been loaded over the weekend onto the vessel MV DIMITRIOS.
The first cargo of Guyana’s lifting entitlement was sold to ExxonMobil Sales and Supply LLC following a competitive bidding process by the five 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 government of Guyana will be working to ensure that Guyana receives the best price for each cargo from both the Liza and Unity Gold crudes,” according to the government statement.
ExxonMobil made the first commercial discovery in Guyana in 2015 and started production in December 2019 from the Liza Destiny floating production and offloading vessel (FPSO), which can produce up to 120,000 barrels per day.
ExxonMobil said it started production at Guyana’s second offshore oil development on the Stabroek Block, Liza Phase 2. The Liza Unity arrived in Guyana in October 2021 and is estimated to store around two million barrels of crude. The Liza Unity is the world’s first FPSO to be awarded the SUSTAIN-1 notation by the American Bureau of Shipping to recognize the sustainability of its design, documentation, and operational procedures.
Guyana has reiterated that it would enact policies to ensure that citizens benefit from the country’s resources as ExxonMobil continues to make new oil discoveries offshore Guyana.
CMC/
