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

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Yinson Production Closes $1B Investment to Drive Further Growth

Fugro Expands Geotechnical Testing Capabilities in Indonesia

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

CNOOC Starts Production at Offshore Field in South China Sea

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Hanwha Ocean Marks Entry into Deepwater Drilling Market with First Drillship

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

Current News

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

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