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Govt. had asked Stabroek block partners to bid to market Guyana’s fourth oil lift
Kaieteur News – Vice President, Dr. Bharrat Jagdeo informed reporters last Monday that the government abandoned the regular evaluation process to select a marketer for Guyana’s fourth crude lift from ExxonMobil’s Liza Phase One operations because it was non-transparent and unacceptable, and that the government decided to ask the Stabroek block co-venturers, ExxonMobil, Hess and CNOOC, to submit bids instead.
The first three lifts Guyana received had been marketed by Royal Dutch Shell.
Kaieteur News had noted in multiple reports that though the sale of the fourth lift was completed since December, the government hadn’t made public the process by which it selected Hess to market the lift.
“So we went out to tender last year,” Jagdeo said, “and 29 companies submitted bids. The evaluation criteria set by the department resulted in the evaluators having to disqualify 28 of the 29 bids.”
He said that the only valid bidder shortlisted was Lukoil, and that the evaluation criteria had disqualified much larger, experienced and well qualified companies such as Royal Dutch Shell, Hess and BP. Jagdeo thought this to be nonsensical.
“So the last two shipments,” he said, “what we’ve had to do, we’ve had to get three bids from the CNOOC, Exxon and Hess. And the [chosen] one was Hess [as] they gave the best terms.”
The lift was sold at US$49 a barrel, for about a million barrels of oil.
The Vice President noted that a shipment was done in February as well, but the government hadn’t received information about the price, as of last Monday.
Additionally, he said that the government has received offers from entities who indicated that they would buy the lift directly from the government, and that government would evaluate those offers. This option would eliminate the costs associated with hiring a company to market the crude.
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