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Over 30 companies interested in Guyana crude marketing contract

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Oilfield Technology,


As reported by Reuters, more than 30 companies, including commodities traders such Gunvor and Vitol as well as units of oil majors such as ExxonMobil and Shell, have submitted expressions of interest for a contract to market the Guyanese government’s share of the country’s crude, the government said on Tuesday.

The National Procurement and Tender Board administration unveiled the bids after their Tuesday morning deadline. Other major companies submitting expressions of interest included units of Mercuria, Lukoil, PetroChina, Equinor, Total, Glencore, Petrobras and Aramco.

Guyana joined the world’s oil producers last year when an Exxon-led consortium began extracting crude from the prolific offshore Stabroek block, where it has discovered more than 8 billion bbl of recoverable resource alongside partners Hess Corp. and CNOOC.

The government is entitled to half of all oil produced after cost recovery, but with no domestic refining capacity or national oil company, it is seeking a third party to help it sell the oil. The government reached a deal with Shell last year to lift its first three cargoes.

The current search, which the government opened in February, is for a 12-month contract to handle at least five lifts of 1 million bbl each.

The government now plans to shortlist no more than 20 companies. Those companies would then be required to provide a full technical proposal and financial offer, a process that could take around two months.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/22042020/over-30-companies-interested-in-guyana-crude-marketing-contract/

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