By March 24, Chinese state oil company CNOOC/NEXEN will lift one million barrels of sweet, light crude from the Stabroek Block’s Liza Phase One Project using the New Melody tanker. According to data from the company, the ship departed Colombia’s Covenas port on Wednesday after getting nearly 1.1 million barrels.
CNOOC has a 25-percent stake in the massive Stabroek block. It’s two other partners on the block are ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) and U.S. conglomerate Hess Corporation.
The companies began production in the offshore Liza oil project in December, 2019 after having discovered more than eight billion barrels of recoverable resources, which could completely transform Guyana’s economy if managed efficiently.
