Page 10 - LatAmOil Week 39 2022
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LatAmOil                                       VENEZUEL A                                           LatAmOil



                         Reuters confirmed this assertion after viewing   major oil upgrading projects focused on the
                         documents covering four months of exports.  production and storage of petcoke. The NOC
                           Between January to mid-September, the   is implementing these projects, Petro San Felix
                         news agency reported, Venezuela exported a   and Petrocedeno, partly in response to pressure
                         total of 2.19mn tonnes of oil byproducts, up   from environmental groups and local commu-
                         from 1.75mn tonnes during the same period   nities across Venezuela that are eager to get rid of
                         in 2021 and 1.03mn tonnes in 2020. It is esti-  open-cast mountains of petcoke, which release
                         mated that petcoke accounted for 70% of these   carbon particles into the air. It was this pressure
                         byproducts.                          that convinced PdVSA to outsource transpor-
                           The rise in Maroil’s profile comes at an oppor-  tation and trading to Maroil under a $138mn
                         tune time, as PdVSA has recently launched two   contract in 2016. ™



                                                        GUYANA
       ExxonMobil reportedly still undecided on




       bidding for more blocks offshore Guyana





                         EXXONMOBIL has not yet decided whether
                         it will bid for additional blocks of the coast of
                         Guyana in the event that the South American
                         country decides to auction off the unassigned
                         sections of its offshore zone, a source close to
                         the matter told Reuters last week.
                           The US-based super-major is already the
                         major player in Guyana’s burgeoning oil indus-
                         try, as it is the operator of the Stabroek licence
                         area.
                           This block is home to Liza-1 and Liza-2, the
                         country’s only two operating oilfields, along
                         with three other oil-bearing sites that have
                         been targeted for development: Payara-Pacora,
                         Yellowtail-Redtail and Uaru-Mako-Snoek.
                         Additionally, it includes more than two dozen
                         commercial hydrocarbon discoveries. Its recov-
                         erable reserves have been estimated at 11bn
                         barrels of oil equivalent (boe), and its crude
                         production may eventually peak at 1mn barrels
                         per day (bpd) or more.
                           Meanwhile, ExxonMobil is also the operator
                         of two other blocks offshore Guyana – Canje and
                         Kaieteur, both of which are adjacent to Stabroek.
                         Neither have yielded any commercial discover-       Unassigned offshore blocks may be auctioned off by the end
                         ies yet.                                            of this year (Image: Guyana Geology and Mines Commission)
                           Because of these extensive holdings – and
                         because of its dominant position at Stabroek –   US company has still not yet decided whether it
                         there have been some calls to exclude Exxon-  wants to try to obtain rights to the unassigned
                         Mobil from any future auctions. Critics have   offshore blocks. ExxonMobil has informed the
                         suggested that the US giant ought to be barred   Guyanese government that it will wait to hear
                         from bidding contests so that it does not gain   the terms of the auctions before making a choice
                         an effective monopoly over Guyana’s offshore   about participation, the source said.
                         sector.                                As of press time, the report could not be
                           The Guyanese government, for its part, has   confirmed.
                         taken a different position. Earlier this year, Vice   When  contacted  by  the  news  agency,
                         President Bharrat Jagdeo said Georgetown was   Meghan Macdonald, a spokesperson for the
                         ready to let ExxonMobil and its partners expand   US major, said only that ExxonMobil “contin-
                         their Guyanese holdings if they agreed to speed   ues to evaluate a wide range of global explora-
                         up their timetables for investment.  tion opportunities, focusing our investments in
                           In any event, according to Reuters’ source, the   advantaged assets.”



       P10                                      www. NEWSBASE .com                      Week 39   28•September•2022
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