Aramco Trading Limited (ATL), a subsidiary of Saudi Aramco, is to market the State of Guyana’s share of crude extracted from the Liza 1 offshore well, says the Ministry of Natural Resources.
Aramco Trading Limited responsible for finding customers
UK-based Aramco Trading Limited has been chosen by the Government of Guyana to market its share of the Liza 1 offshore well.
More than one million barrels.
The well is also shared with ExxonMobil, Hess and CNOOC.
“ATL was identified as the lowest evaluated compliant bidder at a price of 0.025 cents per barrel,” said Guyana’s Ministry of Resources.
ATL as trader will also be responsible for finding a buyer for the million barrels of crude oil produced by the Liza Destiny FPSO.
15 bidding companies
In addition, the Ministry stated that the evaluation process included administrative, technical and financial assessments, and that 15 companies had submitted bids.
The other bidders were: Bibi Energy Trading, Shell Western Supply and Trading, Chevron, Petraco Oil, China National Offshore Oil Corporation, Natural Gas Company of Trinidad and Tobago and Heritage Petroleum, Hess, Vitol, Mercuria Trading, TotalEnergies, Litasco and Trafigura.
Obtaining the “best agreements” for Guyana
Natural Resources Minister Vickram Bharrat said in the statement that the Guyanese government was committed to securing the “best deals” for the country.
He also pledged to “maintain the highest level of compliance and transparency to ensure that the benefits of this sector improve the lives of all Guyanese”.
During the week of September 13, 2021, the National Council for the Administration of Public Contracts and Tenders is expected to be officially informed of the results of the assessment carried out by local and foreign experts.
Guyana has so far sold 7.056 million barrels of crude for $388.7 million since Liza Phase 1 oil production began in 2018.
