US$200 million in revenue from 1 FPSO by year end, 2 more vessels on the way
Dated: October 7th, 2020
New oil producer Guyana has started to receive revenue from the sale of its offshore oil resources and government officials say these sums, which are set to increase exponentially in the coming years, will play a vital role in raising the living standards of the country’s 770,000 people.
“We just have one FPSO out there and…at the end of this year we’ll have close to 200 million US dollars from that one FPSO. The other two FPSOs for Liza 2 and Payara are double the capacity of the one that is operating out there right now,” Vickram Bharrat, Minister of Natural Resources, told OilNOW. “That by itself would show the amount of revenue that will be coming in.”
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Close to US$100 million in shore base investments stalled in recent years