Guyana last week received its first lift of oil for 2022 from the Liza-1 FPSO, Destiny with government expecting the highest price per barrel to date given that world prices have surged.
Minister of Natural Resources Vickram Bharrat yesterday told Stabroek News that oil prices had been within the US$88 to US$90 range at the time of the lift last week and he was hoping the trend continues.
“I am hoping that it remains this way because there is a 10-day Brent lock-in. So this will be the highest payday for us since we started oil production (in December 2019). This will definitely be the highest and we hope to get around US$88 to $US90M. If we get US$90M that is the highest ever,” he said.
Aramco is currently marketing the oil from the Liza-1 Floating, Production, Storage and Offloading (FPSO) platform and will sometime soon notify government of the amount the oil was sold for.
This country received US$74 per barrel of oil equivalent on its last lift in December of last year, which took the overall total in the Natural Resource Fund (NRF) to US$607,646,570. The most it has gotten per barrel since production began was US$80.
It is unclear how many lifts of one million barrels each from the Liza-1 Destiny this country will have this year.
