We will award contracts based on transparency - NNPC

Kachikwu NNPC

Dr Emmanuel Ibe Kachikwu, NNPC GMD

Dr Emmanuel Ibe Kachikwu, NNPC GMD
Dr Emmanuel Ibe Kachikwu, NNPC GMD

The Nigerian National Petroleum Corporation (NNPC) says it has initiated transparent measures to execute the 2015 and 2016 annual award of crude oil term contract to oil companies operating in the country.

A statement by Mr Ohi Alegbe, Group General Manager, Group Public Affairs Division of NNPC, on Thursday in Abuja, said that the measures were to optimise the marketing of Nigeria’s crude oil and secure new market potentials.

It said that the number of off-takers for the proposed 2015 and 2016 contract term, which would emerge after a planned rigorous competitive bid, had been pruned from 43 to 16.

“In the days ahead, we shall place advertisement for the 2015 and 2016 term contracts and the publication will run for one month in major national and international print media to ensure effective message penetration.

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“Later, the guidelines for the selection of new off-takers would be published and subsequently a special bid evaluation committee would be constituted to conduct due diligence on successful applicants,” the statement explained.

It said that NNPC extended invitation for competitive bidding to other oil companies, apart from the earlier listed establishments invited to bid for the proposed Offshore Processing Agreements (OPA).

“We are throwing the tender process open for competitive bidding by strong industry players with track records of integrity and financial strength to execute the project,” it said.