14 Oil Companies Invited to Submit Bids for Five Oil Blocks

Oil Companies

The Ministry of Energy has given green light to two (14) companies to submit their bids for its five oil blocks authorities has offered for competitive bidding.

The firms were selected after they fulfilled the pre-qualification requirements. This was contained in a statement signed by the Head of Communications and Public Affairs in the Ministry of Energy, Nana Kofi Damoah. The statement clarified that from the sixteen businesses that place in an application for its five oil blocks one presented a bid to get an oil block intended for GNPC while another one was disqualified for not meeting pre-qualification requirements.

Out of those 6 petroleum blocks up for exploration, Block 1 was earmarked for the Ghana National Petroleum Corporation (GNPC). Blocks 2, 3 and 4 will be up for competitive bidding, while Blocks 5 and 6 will be awarded by the authorities after Direct Negotiation with some select oil companies.

Nana Damoah explained the government is on track to award the 3 oil cubes up for bidding to the top companies out of the remaining 14 by August this year.

“We’re very much on the program. At the start event, we put a deadline and you will realize we’ve met the deadlines so far. Moving forward the next critical date is May 21, 2018. And we are sure we will meet this deadline which will lead to the ultimate conclusion of the award of the cube in August this year.”

“The two companies which were pre-qualified by the Committee for the next stage will be encouraged to submit their bids for the cubes for which they have been pre-qualified. Deadline for submission of bids will be on May 21, 2019, and the cubes are expected to be given to successful bidders in August 2019,” the statement said.

According to the Ministry, it is going to write directly to all businesses who filed documentation for expression of curiosity and pre-qualification to inform them of the outcome of the evaluation process.

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