The Crude Lifting Agreement which sets out the rules and guidelines to be followed for the sale of petroleum from the Stabroek Block has been finalized.

This was recently noted by Energy Department Head, Dr. Mark Bynoe.

Now that this is in order, the official said that other arrangements are being put in place to ensure the agreement can be followed effectively. In this regard, he noted that the department has contracted Virginia Markouizou as its Crude Marketing Specialist, as well as Mr. Juan Lopez as its Commercial Specialist for a year with the possibility of renewal for at least another year.

The contract for Australian Petroleum Advisor, Matthew Wilks was also extended into the first quarter of 2020. Dr. Bynoe said that Wilks has been helpful in several areas, particularly contract management.

Further to this, Dr. Bynoe shared that the department is in the process of concluding contractual arrangements with a Petroleum Accounting Specialist and a Natural Gas Specialist. The contracts are expected to be signed before the end of the year. He was keen to note that those positions were advertised and applied for through a competitive process.

With respect to its sister agencies, Dr. Bynoe said that the department has made every effort to ensure there is collaboration on various issues. He said that discussions are ongoing with ExxonMobil and its partners to reach consensus with regards to the Market Price Determination Procedure and Provisional Crude Oil Basket for marketing Guyana’s crude. “We are aiming to conclude this process shortly,” he expressed.

Turning his attention to the Guyana National Bureau of Standards (GNBS), one of the sister agencies involved in ensuring accurate measurements of Guyana’s oil , Dr. Bynoe said it has received assistance from Bureau Veritas and was able to complete a water draw exercise. Further to this, GNBS, he said, was also able to complete an inspection of the critical measurement points on the Liza Destiny, Guyana’s first Floating Production Storage and Offloading (FPSO) vessel during the month of November 2019.

The Energy Director Head said, “They continue to be engaged actively with the Department of Energy and the Operator.”

Furthermore, Dr. Bynoe said that the department remains in discussions with the Canadian High Commission for staff members of the Bureau, along with those from the Guyana Geology and Mines Commission (GGMC)’s Petroleum Unit and the Guyana Revenue Authority (GRA) to receive further training in measurements, calibration and testing.

This training is expected to occur in January 2020.


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