Page 7 - LatAmOil Week 44 2019

LatAmOil G U Y A N A LatAmOil
Guyana will seek marketing agent for oil from offshore Liza field
GUYANA is gearing up for the start of produc- tion at Liza, a section of the offshore Stabroek block, next month. According to Mark Bynoe, the director of the country’s Department of Energy, the Guyanese government will soon finalise arrangements for its portion of the oil extracted from the field.
Speaking on November 6, Bynoe said Georgetown’s next task would be to seek an agent to market its share of future production on a fee-per-barrel basis. The government will call a tender for this purpose and has already begun preparing the relevant documents, he said.
In the meantime, he added, the Department of Energy has already moved in this direction by signing contracts with crude oil and commer- cial marketing specialists. It also hopes to strike a deal with specialised contractors that can pro- vide petroleum accounting and contract admin- istration services in the near future, he added.
The Liza project is due to come on stream next month. It will yield 750,000 barrels per day of oil by 2025, but in the initial stage of
development, yields will be just 120,000 bpd. During this first stage, each of the four parties entitled to oil from Stabroek will be able to lift 1mn barrels at a time, at intervals of about eight to 10 days. Bynoe said on November 6 that Exx- onMobil (US), the operator of the project, would carry out the first lifting in order to ensure that future shipments from the field were of consist- ent quality. The government will then lift its first portion in late February or March of next year,
he added.
He did not say when the other two share-
holders in the project – Nexen, a unit of China National Offshore Oil Corp. (CNOOC), and US-based Hess – would lift their first cargoes.
The partners will be employing a floating production, storage and off-loading (FPSO) ves- sel known as the Liza Destiny to extract oil dur- ing the first phase of development work at Liza. It will then use another FPSO, the Liza Unity, to bring the second phase of the field on stream in 2022. Second-phase production is due to peak at 220,000 bpd. ™
BRAZIL
Petrobras seeks to speed up development
Stabroek block offshore Guyana (Image: Hess Corp.)
BRAZIL’S national oil company (NOC) Petro- bras is reportedly looking for ways to reduce the amount of time needed to start production at newly discovered oilfields.
Carlos Alberto Pereira de Oliveira, the com- pany’s director of exploration and production,
said at the Offshore Technology Conference (OTC) in Rio de Janeiro that Petrobras typi- cally took 1,900 days, or more than five years, to go from discovery to first oil. The company wants to shorten the interval to just 1,000 days, or around two years and nine months, he said.

Week 44 07•November•2019 w w w . N E W S B A S E . c o m
P7