UK BP International to market Guyana’s crude oil – CARICOM Business

Guyana has selected the UK-based BP International Ltd to market the country’s share of petroleum from the Liza Destiny and Liza Unity floating production storage and offloading vessels.

Under the Production Sharing Agreement, Guyana is entitled to 50% of the profit oil share – 12.5% each to the country and the ExxonMobil-led Esso Exploration and Production Guyana Ltd and 75% goes to cost oil. Guyana also gets 2% royalty.

The UK oil company will support the Guyana government “in all operating and back-office responsibilities of managing the crude sales and each individual lift whilst facilitating timely & cost-effective crude operations”.

Extract from the CARICOM BUSINESS Newsletter, Vol 5. No. 48

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Source: CARICOM TODAY