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Guyana’s light, sweet oil will be priced against North Sea benchmark
Dec 08, 2019 News
Over six billion barrels of oil equivalent have been discovered in the Stabroek Block offshore Guyana. This oil will be priced against an oil price benchmark that is based on oil from the North Sea basin, a prolific hydrocarbon province located in Northwestern Europe.
Map of discoveries made on Stabroek Bloc.
Esso Exploration and Production Guyana Limited (EEPGL) is the lead operator. It has a 45 percent working interest, while Hess Guyana Exploration Ltd has 30 percent interest and CNOOC Petroleum Guyana Limited has 25 percent interest.
The price of a barrel of North Sea crude is calculated based on a competitive set of crudes extracted from fields in the North Sea. Continue reading →
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