Fifth oil lift announced by Government

The Natural Resources Ministry announced that it has completed the fifth lift of crude oil from
the Liza Destiny Floating Production, Storage and Offloading (FPSO) vessel in the prolific
Stabroek Block.
This disclosure was made by the Natural Resources Minister, Vickram Bharrat on Monday who
said the most recent lift also represents Guyana’s final lift for 2021 from this development. He
disclosed that the lift of 1,043,289.542 barrels of oil now brings Guyana’s total oil lifts for year
2021 to approximately 5.1M barrels of high-quality Liza crude. He noted that this now brings the
total oil lifts since first oil in 2019 to nine.
The Natural Resources Ministry also on Monday lauded the invaluable efforts of its own internal
petroleum team and regulatory agencies such as the Finance Ministry (MoF), the Guyana
Revenue Authority (GRA), the Guyana National Bureau of Standards (GNBS) and the
Environmental Protection Agency (EPA), in safeguarding Guyana’s interest in coordinating the
sales of its share of crude 0il throughout 2021. “The Government of Guyana through the
Ministry of Natural Resources will continue to build technical capacity and jointly work with all
relevant stakeholders to sustainably manage the petroleum sector for the benefit of all
Guyanese,” the ministry was quoted as saying.
The ministry noted that it will ensure that it refines the skillsets of Guyanese as it prepares to
commission the Liza Unity FPSO in the first quarter of 2022. The ministry stressed that as such,
the Public Service Ministry, through the Guyana Online Academy of Learning (GOAL) has been
offering technical oil and gas related courses to prepare Guyanese for this lucrative sector. They
noted that the programme will begin this year and targets about 150 students. It said that prior to
the initiation of the technical programme, GOAL introduced multiple Masters level degree
programmes which will position Guyanese for careers in the oil and gas industry. The
government declared its intention also in training locals through other means.
Additionally, an estimated $534M was the last reported balance in Guyana’s Natural Resources
Fund (NRF) according to the Finance Ministry’s October 2021 report of the fund. The statement
further shows that the net balance as of October 31, 2021 stood at GY$111B with no outflows
from the fund into the Consolidated Fund.  It stressed that the People’s Progressive Party/ Civic
(PPP/C) Government intends to amend the laws governing the NRF to safeguard and insulate it
from political manipulation.
The ministry added that Guyana’s first lift for the new year, 2022, is expected in January.