Guyana receives offers from major energy companies for oil marketing contract

Guyana on Tuesday received offers from major energy companies seeking a 12-month marketing contract to trade the government's share of crude oil produced in the country, the country's National Procurement and Tender Administration Board said.

A total of 27 offers were received, the board said, including offers from Shell, TotalEnergies, Chevron, ADNOC, Gunvor, Vitol, PetroChina, CNOOC and Eni.

A consortium led by Exxon Mobil controls all of the South American country's oil and gas production through three active projects, while the government is entitled to some of the output under a production-sharing agreement.

Guyana's slightly sweet crudes – Liza, Unity Gold and Payara – have been well received by refiners since the country began production in 2019. Last year, a larger share of exports went to Europe to meet demand.

Bidders were allowed to submit proposals for marketing crude oil from a single project or a combination of projects. The contract begins next month and the government aims to deliver its share of production in 1 million barrel loads, according to a copy of the tender seen by Reuters.

Guyana expects to receive and deliver for marketing approximately 23 cargoes over the 12-month period, but final figures will depend on production rates, the tender continued.

Trading company JE Energy is currently marketing the state's share of crude oil production in the Liza 1 project, while BB Energy is marketing the state's share in the Liza 2 and Payara projects following a similar tender last year.

(Reuters – Reporting by Kemol King and Ahmad Ghaddar, written by Marianna Parraga)