*

First cargo will be of 1 million barrels

*

New crude grade 'Golden Arrowhead' to be the country's

lightest

*

Consortium partners expected to jointly sell the cargo

(Updates with crude quality details in paragraph 4, adds

bullets)

By Kemol King and Robert Harvey

GEORGETOWN/LONDON, June 10 (Reuters) - The first crude

cargo from Guyana's fourth oil production facility, which

arrived in the country in April and is being installed, is set

to be exported between late August and early September, the

government told Reuters on Tuesday.

A consortium by U.S. companies Exxon Mobil ( XOM ) and Hess

and China's CNOOC controls all crude and gas

output in Guyana. Each party individually exports its share of

production, and the government also is entitled to a share as

profit oil.

WHY IT'S IMPORTANT

The floating facility, built by SBM Offshore and

called One Guyana, is expected to begin producing in the coming

months, expanding the consortium's output capacity to more than

900,000 barrels per day (bpd), the companies have said.

The first load of Guyana's new crude grade, called "Golden

Arrowhead," will be of 1 million barrels, according to three

trading sources with knowledge of the offer. The oil is expected

to be the country's lightest with 36.5 API degrees of density

and 0.25% of sulphur content, according to an assay seen by

Reuters, making it easier to refine by non-complex facilities.

Because it will be the first cargo from that platform, it is

expected to be sold soon by the three partners, one of the

sources said.

One Guyana will produce crude and associated gas at the

Exxon group's Yellowtail and Redtail offshore fields.

REACTION

Exxon, which leads the consortium, did not reply to a

request for comment. Guyana's government did not provide further

details.

CONTEXT

Since it started exporting crude in early 2020, the

burgeoning oil nation has emerged as the fifth largest Latin

American crude exporter after Brazil, Mexico, Venezuela and

Colombia.

Guyana's oil exports rose 54% last year to some 582,000 bpd,

fueled by European refiners' demand for easy-to-process sweet

crudes, according to shipping data. Output capacity in the

country is expected to reach 1.7 million bpd by 2030.