The production of oil from the Stabroek Block totalled 1,745,930 barrels for January 2020, or 56,320 barrels of oil per day. This was noted in the latest Report on Petroleum Production and Revenues (RPPR) which is prepared by the Ministry of Finance.
Of the 1,745,930 barrels produced, the report notes that a total of 1,020 barrels was used for facility fill. As noted in the RPPR Dec 2019, this volume of crude will remain in the hose and piping between cargo tanks and the crude offloading hose point that connects to the offloading vessel. It was further noted that there was no change in the volume of crude used as ballast in the cargo tanks. The Finance Ministry also noted that there were no operational losses reported for this period and no crude was used for fuel or transportation in petroleum operations.
Speaking to the lift that was made by ExxonMobil for January, the Ministry said that this amounted to 1,046,897 barrels. The Guyana Standard understands that this lift included the 21,592 BBL of Marine Gas Oil and Intermediate Fuel Oil that was loaded onto the Liza Destiny in Singapore for commissioning activities.
Turning its attention to cost recovery, the Ministry noted that Article 11.2 of the Petroleum Agreement for the Stabroek Block states that in any month during which crude is produced and sold, a maximum of 75 percent of crude produced after losses and operations (PALO), can be allocated to permissible recoverable costs incurred by the Contractor. In January 2020, this cost recovery ceiling amounted to 1,308,682 barrels, i.e. 75 percent of 1,744,910. The Ministry noted that all crude produced and sold from the Liza field was allocated to cost oil.
