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

Larsen & Toubro Adds Major ONGC Offshore Project to Orderbook

Energean’s Profit Rises as Israeli Gas Operations Recover

Saipem Bags Commissioning Contract for Türkiye-Bound FPU

PTTEP, Petronas Ink 35-Year Malaysia-Thailand Gas Deals

BP Completes Central Azeri Platform Maintenance, Ramps Up Production

ConocoPhillips, CNOOC Put Penglai Field off China Into Full Operation

FPSO for Azule Energy’s Angola Offshore Field Starts Taking Shape in China

Jadestone Energy Lifts Malaysia Production with Second Online Well

Tetragon Energy Advances Oil and Gas Exploration Activities off Philippines

MODEC Advances Construction of Brazil-Bound Gato do Mato FPSO

Current News

PTTEP Gets Thai Approval for Offshore Stake Transfer to Valeura Energy

Valeura Finds New Oil Near Manora Field in Gulf of Thailand

MODEC, Eld Energy Advance Fuel Cell Power for FPSOs

Santos Expands LNG Portfolio with Asia, Canada Deals

Petronas, PTTEP Get Approvals for New Gas Block Sharing Contract

TPAO Eyes Karabakh Offshore Expansion with SOCAR

XRG, ADNOC and SEFE Deepen Gas Ties in Europe

Saudi Oil Lifeline Shut After Attack as Red Sea Threat Grows

Greater Sunrise Gas Production Pushed Back to 2034

SED Energy Holdings and Ventura Offshore Set to Combine Ops

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