The Government of Guyana, through the Ministry of Natural Resources has announced that following a competitive bidding process, BB Energy Trading Limited and JE Energy, have been awarded the contracts to market Guyana’s share of crude from the three Floating Production Storage and Offloading (FPSO) vessels.
In a statement this afternoon, the Natural Resources Ministry explained that the contracts were awarded through the National Procurement and Tender Administration Board (NPTAB).
The Natural Resources Ministry said BB Energy Trading Limited will market Guyana’s share of crude from the Liza Unity and Prosperity FPSOs, while JE Energy will market the country’s crude from the Liza Destiny FPSO.
The international firms, the Natural Resources Ministry said, were selected following a competitive procurement process that commenced in September 2024 and saw 27 bids being submitted to NPTAB.
“In keeping with the Request for Bids, the evaluation was on a lots basis where the most substantially responsive bidder in relation to the combined lots was determined in keeping with the evaluation criteria,” the Ministry explained.
It said the combined premium per barrel to be received by the Government from BB Energy and JE Energy for the crudes from the three FPSOs amounts to US$1.85, reflecting a substantial 93% increase compared to the US$0.96 premium secured in the previous period (2023-2024).
The contracts span a period of 12 months.
BB Energy and JE Energy had also won the bid in 2023 to market the country’s crude oil. At the time, more than 23 companies had bid for the contracts.
Guyana’s crude was previously marketed by BP Oil.
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