Posted on: 07:50 Fri, 28 Aug 2015



The Nigerian National Petroleum Corporation (NNPC) has reduced the number of companies that will handle the contract of lifting Nigeria’s crude from 43 to 16.

The drastic reduction is part of the Corporation’s transformation agenda aimed at keeping its operation small, efficient, transparent and reduction of cost.

NNPC spokesman, Ohi Alegbe said the decision is a novel move to instill transparency and accountability in the award of the annual Crude Oil Term Contract for 2015/2016.

He said:
“NNPC yesterday mapped out measures to execute the 2015/2016 award of contract to companies for the evacuation of Nigeria’s crude oil equity from the various crude and condensate production arrangements.”

In a statement, NNPC stated that it was part of measures to optimise the marketing of Nigeria’s crude oil and secure new market potentials. It said the number of off-takers for the proposed 2015/2016 term contract which would emerge after a planned rigorous competitive bid exercise has been pruned from 43 to 16.

The statement read:
“In the days ahead, we shall place advertisement 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.”

He also stated that apart from Oando, Calson, MRS, BP/Nigermed and Total Trading that were earlier selected to bid for the new Offshore Processing Agreement (OPA), invitation was also extended to Forte Oil and Mobil to bid for the OPA contract.

The Nation