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The Liza Destiny Floating Production Storage and Offloading offshore Guyana (Photo: dpi.gov.gy)

Another million barrels of crude oil lifted from Guyana

The Liza Destiny Floating Production Storage and Offloading offshore Guyana (Photo: dpi.gov.gy)

Another million barrels of crude oil has been lifted from Guyana, the most recent nation to begin production.

An aerial view of Georgetown, the capital of Guyana.

The second shipment of crude was lifted from the Liza Destiny Floating Production Storage and Offloading vessel last Thursday, according to the country’s Department of Public Information.

The crude oil was moved onto the Sonangol Namibe oil tanker, with payment expected next week.

The oil lift was confirmed earlier this month by Dr Mark Bynoe, Director of the Department of Energy, and follows the first equivalent shipment which was lifted three months ago and earned some US$55 million.

That initial shipment, which is the first of three sold to Shell Western Supply and Trading.

The fuel hose leads from the Liza Destiny to the Cap Philippe for the transfer of Guyana’s first million barrels of crude in February. (Ministry of the Presidency photo)

Bynoe said “We continue to work collaboratively with both the Bank of Guyana and the Ministry of Finance that we are not only moving towards having the requisite deposited as they ought to but that the reconciliation process is carried out to ensure that the numbers align fully with what is due to the Cooperative Republic of Guyana.”

Further, he assured that the Energy Department is committed to guaranteeing will be deposited properly by working alongside the relevant agencies.

Guyana began oil production in December 2019 and saw its economic prospects soar and was estimated to have the largest economic percentage growth globally this year.