China's CNOOC to Load First Cargo of Guyanese Oil Soon

Luc Cohen and Marianna Parraga
Friday, March 20, 2020

China's state-controlled oil company CNOOC Ltd is scheduled to load in the coming days its first cargo of crude from Guyana's offshore Liza oil project, the South American country's Director of Energy Mark Bynoe said.

CNOOC has a 25% stake in the massive Stabroek block as part of a consortium with operator Exxon Mobil Corp and U.S. firm Hess Corp. The companies began production in December and have discovered more than 8 billion barrels of recoverable resources, which could transform Guyana's economy.

The New Melody tanker is expected to load up to 1 million barrels of sweet, light Liza crude for CNOOC when it arrives at the consortium's floating production, storage and offloading platform (FPSO) - some 190 kilometers (118 miles) off Guyana's coast - around March 24, according to Refinitiv Eikon data.

The very large crude carrier (VLCC), with a capacity of around 2 million barrels, departed Colombia's Covenas port on Wednesday evening after loading around 1.1 million barrels, the data show.

The tanker's destination is yet unclear.

The New Melody had approached the FPSO earlier this month but left without loading due to a change in the loading window, Bynoe said.

"Since this is a VLCC, she picked up some cargo and on her way back... she will collect the remainder of her cargo," he told Reuters.

The New Melody will be the fifth tanker to load Guyanese crude. Exxon, which has a 45% stake in the Stabroek block, has taken two cargoes of some 1 million barrels each, while the government - which last year awarded Royal Dutch Shell a tender to sell the first three cargoes it is entitled to under the contract - has so far taken two cargoes.

(Reporting by Luc Cohen and Marianna Parraga, Editing by Rosalba O'Brien)

Categories: Industry News Activity FPSO Production South America Asia Floating Production China

Related Stories

MODEC, Eld Energy Partnership Targets Low-Carbon FPSO Power

ADNOC Gas Signs $3B LNG Supply Deal with India’s HPCL

Philippines Makes First Offshore Gas Discovery in Over a Decade

Thailand's Gulf Energy Eyes Long-Term LNG Supply

ADNOC Takes FID on SARB Deep Gas Project Offshore Abu Dhabi

India Seeks $30B from Reliance, BP Over Gas Shortfall at Offshore Fields

PV Drilling’s Jack-Up Rig Returns to Asia Ahead of April Drilling Ops

EnQuest Set to Top 2025 Production Forecast on Southeast Asia Gains

Petronas Enlists MISC for FPU Job at Gas Field Offshore Brunei

Petrobras’ New FPSO Sets Sail From South Korea to Brazil's Santos Basin

Current News

Conrad, Empyrean Agree Settlement Framework Over Duyung PSC Interests

Northern Offshore’s Energy Emerger Rig Up for Drilling Job off Oman

Petronas Plans Ramp-Up in Exploration, Production Over Three Years

Australia and Timor-Leste Push to Advance Greater Sunrise Gas Field

MODEC, Eld Energy Partnership Targets Low-Carbon FPSO Power

JERA Lifts First LNG Cargo From Barossa Gas Project in Australia

Inpex Moves to Accelerate Indonesia’s Abadi LNG Project

Chevron in Final Talks with Eneos, Glencore on Singapore Assets Sale

Seadrill Firms Up Offshore Drilling Workload with Multi-Region Contract Awards

Turkish Petroleum, Chevron Discuss Joint Oil and Gas Exploration

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com