((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
(Added information on bids submitted) by Kemol King and Ahmad Ghaddar
Guyana received offers on Tuesday from major energy companies seeking a 12-month marketing contract to trade the government’s share of crude produced in the country, the National Procurement and Tender Administration Board said. National Council for Public Procurement and Tender Administration).
A total of 27 offers were received, the commission said, including offers from Shell SHEL.L, TotalEnergies TTEF.PA, Chevron CVX.N, ADNOC ADNOC.UL, Gunvor GGL.UL, Vitol
VITOLV.UL , PetroChina 601857.SS , CNOOC 0883.HK and Eni
ENI.MI .
A consortium led by Exxon Mobil XOM.N controls all oil and gas production in the South American country through three active projects, while the government is entitled to a portion of the production under a production sharing agreement.
Guyana’s light sweet crude grades – Liza, Unity Gold and Payara – have been very well received by refiners since the country inaugurated production in 2019. Last year, a large portion of exports went to Europe to meet its demand.
Bidders were allowed to make proposals to market crude from a single project or a combination of multiple projects. The contract will begin next month and the government intends to deliver its share of production in cargoes of one million barrels, according to a copy of the tender seen by Reuters.
Guyana expects to receive and deliver for marketing approximately 23 cargoes during the 12-month period, but final figures will depend on production rates, the tender adds.
Trading company JE Energy is currently marketing the government’s share of crude produced under the Liza 1 project, while BB Energy is marketing the government’s share of the Liza 2 and Payara projects, following a similar tender last year.
