Guyana to receive first entitlement lift from Liza Unity FPSO

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Aerial shot of the Liza Destiny Floating Production Storage and Offloading vessel – Guyana’s first oil ship

GEORGETOWN, Guyana, (DPI) – The government of Guyana will be receiving its first entitlement lift of the Unit Gold crude from the Liza Unity Floating Production Storage and Offloading (FPSO) production platform from April 23 to 24.

“The usual lifting entitlement amount of one million barrels of oil (1MMBBls) will be loaded onto the vessel MV DIMITRIOS by the terminal operator”, DPI reported. “The first cargo of Guyana’s lifting entitlement was sold to ExxonMobil Sales and Supply LLC following a competitive bidding process by the five companies, inclusive of the covertures of the Stabroek Block.”

The ExxonMobil affiliate bid was the best on the pricing differential for the crude and this lift will incur no marketing fee by the lifter. This lift is a one-off arrangement for the company.

“The government of Guyana will be working to ensure that Guyana receives the best price for each cargo from both the Liza and Unity Gold crudes. The forecasted price for this first lift of the Unit Gold crude for Guyana is US$106 per barrel.”

Caribbean News Global expo_guyana Guyana to receive first entitlement lift from Liza Unity FPSO

Meanwhile, the International Energy Conference and Expo 2023 was officially launched Friday.

“We look forward for greater success and a larger turnout in 2023. You have a longer time to plan. So, all stakeholders will have a longer time to prepare their exhibits, prepare presentations and therefore, we will have a grand conference in 2023,” said prime minister, Brigadier (Ret’d), Mark Phillips.

“It is very important that I mention all the people of Guyana. For far too long as a country, we have struggled with developing our country and improving the lives of the people of Guyana. [Today] we have a resource, and we as a government have committed ourselves to utilising that resource, to improve the lives and livelihood of all the people of Guyana,” the prime minister added.

Read more: International Energy Conference and Expo 2023 will be a mega event

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