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By Neil Marks
GEORGETOWN, April 2 (Reuters) - The recent plunge in crude
oil prices has had no impact on production at Guyana's flagship
Liza project, operated by Exxon Mobil Corp, but the
company plans to make adjustments as necessary, a spokeswoman
said.
A price war between the world's oil powerhouses and
fast-declining crude demand has left many producers in Latin
America struggling to cover production costs, boosting the
chances of output cuts.
Production at the offshore Liza well, which Exxon and
partners Hess Corp and China's CNOOC brought
online in December, is expected to reach some 120,000 barrels
per day (bpd) in its first phase.
"We are managing production rates to ensure safe and
responsible operations," Janelle Persaud, Exxon's public and
government affairs advisor in Guyana, said in a statement. "We
continue to monitor the situation closely and will make
adjustments as necessary."
Exxon would have to engage with the Guyanese government
before making any adjustments to its operations, the country's
Director of Energy, Mark Bynoe, told Reuters.
Bynoe said he remained hopeful the government will be able
to find a marketing agent to sell its share of Liza crude,
despite delays in the search process caused by political turmoil
after a disputed presidential election and the coronavirus
outbreak.
Guyana's government several months ago awarded Royal Dutch
Shell with a tender to sell its first three cargoes of
oil produced at Liza, or about 3 million barrels in total.
Shell has so far exported one of the three cargoes,
according to Bynoe. The next lift allocated to the government
and sold to the Anglo-Dutch firm is scheduled for May, he said.
(Reporting by Neil Marks
Editing by Chizu Nomiyama and Sonya Hepinstall)