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Guyana: Gov’t seeking consultant on sale of Guyana’s crude oil

Government has advertised for consulting services to provide guidance on selling Guyana’s share of crude oil, expected early next year with oil major ExxonMobil’s Liza Phase 1 project on track to achieve first oil by the first quarter of 2020.

Liza Phase 1 is forecast to produce up to 120,000 barrels of oil per day at peak rates, a portion of which will accrue to Guyana. Last week, advisor to the Department of Energy (DoE) Matthew Wilks spoke of the DoE’s crude oil lifting and marketing plan, which would see this country selling its share of oil “independently to get the highest price on the international market.” He had disclosed that the agency has advertised for a crude oil market advisor to provide analysis of the best mechanisms for government going forward in this area.

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