Guyana contracts UK-based firm to market crude oil

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Liza Unity FPSO

BP International Limited, a UK-based company, has secured a contract from the Government of Guyana to provide marketing services for Guyana’s oil from the Liza Destiny and Liza Unity Floating, Production, Storage, and Offloading (FPSO) vessels for one year. 

The Government of Guyana through the Ministry of Natural Resources announced on Thursday that for the next twelve months, BP International Limited will provide support and guidance to Guyana in all operating and back-office responsibilities of managing the crude sales and each individual lift whilst facilitating timely and cost-effective crude operations and support the government in the continued introduction of the grade to multiply geographies and refinery systems. The company is also expected to provide benchmark and performance comparisons of prices paid to Guyana’s crude and work closely with the government to understand the behaviour and yields of the Liza blend and how these can affect pricing differentials.

BP International Limited won the bidding process, which initially began in September, defeating 13 other companies. The Ministry says that fourteen bids were submitted to the National Procurement and Tender Administration Board, where an Evaluation Committee that was established recommended that BP International Limited be awarded the contract. An evaluation report which the recommendation formed part of was cleared by the Board and secured Cabinet’s ‘no objection.’

The contract, according to the Ministry, will last for twelve months at a marketing price of US$0.00 per barrel.

Liza Destiny FPSO

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