As part of the measures to increase transparency in the Oil Sector, the Nigerian National Petroleum Corporation (NNPC) has mapped out clear guidelines to execute the 2015/2016 award of contracts to companies.
In a statement by the corporation’s spokesman, Mr. Ohi Alegbe, NNPC said “In the days ahead, we shall place advertisements for the 2015/2016 term contracts and the publication will run for one month in major national and international print media to ensure effective message penetration.
“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.”
NNPC stated that the number of off-takers for the proposed 2015/2016 term contracts, which would emerge after a planned rigorous competitive bid has been pruned from 43 to 16.
The corporation also extended invitations for competitive bidding to Forte Oil and Mobil Oil, among others.
“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,” NNPC added.