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ExxonMobil to take first shipment of crude – Dr. Bynoe

Nov 07, 2019 News

Should Guyana start producing oil by Christmas, the first shipment would not be ready until January 2020. And taking the first entitlement would be ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), says Energy Department Head, Dr. Mark Bynoe.
During a press conference yesterday at the National Communications Network (NCN) studio, Dr. Bynoe explained that the thinking behind Exxon going first and not Guyana, is due to the operator’s capacity to refine the first set of oil which often comes up with a lot of impurities.
Dr. Bynoe said that by using its refineries, Exxon Mobil would be able to preserve the integrity of Guyana’s oil going forward.
He said, “…I understand that the first lift often comes with a fair amount of impurities and impurities in crude can affect the price you get for it. So it not only impacts that batch but subsequent batches. It makes sense for them to take the first lift, (and) process it, so the integrity or quality can be preserved going forward.”
The official disclosed that Guyana’s first shipment would be uplifted until late February or March.
Further to this, Dr. Bynoe said that each entitlement will be one million barrels, but noted that there is no exact science to this. He said that it could very well end up being a million and a bit more. He noted, however, that a reconciliation process is in place to address this.
Once the Liza Phase One Project reaches peak period, where 120,000 barrels of oil would be produced, Dr. Bynoe said one can expect a lift every eight to ten days.

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