Gov’t identifies BP International Limited to market Guyana’s share of crude

The Ministry of Natural Resources on Thursday announced that BP International Limited of the United Kingdom had been selected to market Guyana’s share of petroleum from the Liza Destiny and Liza Unity floating production storage and offloading (FPSO) vessels, following a competitive procurement process.

The Ministry of Natural Resources publicly issued its Request For Bids on September 16, 2022, with October 11, 2022, as the submission deadline.

As a result, 14 bids were submitted to the National Procurement and Tender Administration Board (NPTAB).

“The procurement board appointed an Evaluation Committee, and that committee recommended BP International for the award of contract as part of its evaluation report. That report was cleared by NPTAB and received the Cabinet’s no objection,” the Natural Resources Ministry said.

The duration of this contract will be for 12 months at a marketing price of US$0.00 per barrel. This procurement process was initiated after the contract with Aramco Trading Limited ended.

Some of the services provided by BP International would be to provide support and guidance to the Government of Guyana in all operating and back-office responsibilities of managing the crude sales and each individual lift whilst facilitating timely and cost-effective crude operations.

Moreover, the company will support the government in the continued introduction of the grade to multiply geographies and refinery systems and provide benchmark and performance comparisons of prices paid for Guyana’s crude.

“Work closely with the government to understand the behaviour and yields of the Liza blend and how these can affect pricing differentials.”

To this end, the Natural Resources Ministry said it would continue to employ transparent and international best practices in the management of the nation’s petroleum resources so as to attain maximum returns and advance the livelihoods of all citizens.