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Additionally, it will give the company a role to play in a partnership with the US firm Occiden- tal Petroleum (Oxy).
Amerisur’s net production amounted to 6,865 barrels per day (bpd) of light crude oil as of September 2019. The company’s net proven reserves stood at 15mn barrels as of July 2019, while net unrisked exploration resources came to 289-566mn barrels, GeoPark said.
“The acquisition of Amerisur brings a wagon full of short, medium and long-term benefits, including light oil production, proven reserves, low break-even cash flow, low-risk development
opportunities, significant exploration resources, new strategic acreage, carried exploration drill- ing, a cross-border pipeline, new industry partnerships and attractive operating and com- mercial synergies,” said James F. Park, CEO of GeoPark. “Our team is prepared and hitting the ground running today to begin working on this exciting new opportunity.”
GeoPark’s portfolio now includes a total of around 50 oil and gas blocks in Latin Amer- ica. Most of these sites are located in Brazil and Colombia, but the firm also has assets in Argen- tina, Ecuador, Peru and Chile.
GUYANA
ExxonMobil loads first 1mn barrel cargo of Guyanese oil
EXXONMOBIL reported that it had loaded and dispatched its first cargo of crude oil from the first stage of Liza, a field that lies offshore Guy- ana, on January 20.
The US super-major and its partners in the offshore Stabroek block completed the loading of 1mn barrels of oil from the Liza field onto the Yannis P, a Suezmax tanker owned by Dalvan Marine, over the weekend. They used the Liza Destiny, a floating production, storage and off-loading (FPSO) vessel stationed at Liza to transfer the oil to the ship.
The oil is now on its way to Galveston, Texas, US. From there, it will go into ExxonMobil’s domestic refining network.
The US company has said it will export both of the first two cargoes it loads at the Liza field, and US-based Hess, another partner in the project, is scheduled to take responsibility for another cargo sometime in February.
Meanwhile, Royal Dutch Shell has sold additional cargoes on behalf of the Guyanese
government since it won the right to act as Georgetown’s marketing agent in a tender last month.
Liza is one of 15 discoveries at Stabroek, a block that lies in the deepwater section of Guy- ana’s offshore zone. Equity in the block is split 45% to operator ExxonMobil (US), 30% to Hess and 25% to China National Offshore Oil Corp. (CNOOC).
The partners hope that Stabroek will eventu- ally yield as much as 750,000 bpd of oil They are developing the block in multiple stages and have already approved plans for the second phase, which will be known as Liza-2. This phase of operations is due to start in mid-2022, and the partners will use the Liza Unity, another FPSO, to extract crude from Liza-2. The ship is capable of handling up to 220,000 bpd of oil.
Payara, the third stage of the project, will achieve first oil in 2023. The group wants to use another FPSO to exploit this section, which will yield another 220,000 bpd of oil.
ExxonMobil has loaded the oil onto the Yannis P tanker (Photo: VesselFinder)
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