Even though Guyana has the option to use ExxonMobil to sell its share of the profit oil, it has decided to go the other direction says Government’s Petroleum Advisor, Matthew Wilks.
At a recent press conference, Wilks said that Guyana will be selling its share of the profit oil from the Stabroek Block independently so as to get the highest price on international markets.
Wilks said that moves are already being made for the hiring of a Crude Marketing Advisor to ensure transparency in this regard. Wilks indicated that the tender document for the post is currently being fine-tuned.
In terms of the arrangements to govern the correct measurement of the oil being extracted by Exxon, Wilks said that the Government is in the process of crafting a Crude Lifting Agreement.
The official said, “That agreement contains all the metering checks and that document is in an advanced stage of preparation. You can say it is almost complete. What we are going through now is a process of getting various agencies within Guyana ready for crude lifting.”
The Petroleum Advisor added, “As I would have indicated earlier, one of the things going out to tender right now is for a Crude Lifting Advisor and that person will assist us in arranging a marketing arrangement for the government’s share. In terms of the accuracy of metering, how you meter, who checks and all that, it would be contained in the Crude Lifting Agreement. And all parties will have to sign it.”
Wilks said that the Energy Department would be more than happy to make the Crude Lifting Agreement public when the time comes.