Greek oil tanker arrives to lift Guyana’s first portion of oil

The Department of Energy has announced that a Greece-registered crude oil tanker will arrive in Guyanese waters Thursday to lift the first million barrels of oil Guyana is entitled to under its arrangements with ExxonMobil and its partners.

Oil production began on December 20 last year and the first two million barrels of oil went to ExxonMobil.

This is the third lift and has been assigned to Guyana.

Guyana is expected to have at least five cargoes in 2020, the Department of Energy stated.

The vessel, Cap Phillipe, will be moored to Guyana’s Floating Production Storage and Offloading (FPSO) vessel, the Liza Destiny, on Sunday and the oil will be transferred to the ship on Monday, February 17 and Tuesday, February 18, 2020.

The government has not disclosed the price at which the crude has been sold. The payment will be deposited into the Bank of Guyana account set up at the New York Federal Reserve Bank.

Guyana’s first three cargoes have been sold to Royal Dutch Shell Plc.

The Department of Energy (DE) repeated that it will be launching a Request for Proposal (RFP) shortly to recruit a marketing firm on a term basis to assist the Department in selling Guyana’s crude entitlement.