By OGJ editors
HOUSTON, Aug. 28 -- Libya's National Oil Corp. (NOC) is soliciting international exploration and production companies to participate in the country's third lease bid round for certain E&P-sharing agreements (EPSA) covering various basins featured in the country's EPSA IV Round 2 (OGJ, Oct. 24, 2005, p. 42).
Interested companies are invited to a presentation, involving the contractual framework, a technical summary of the individual areas and blocks, and the bidding process terms and conditions, followed by a discussion.
Round 3 was to be hosted in Tripoli Aug. 24 and also in London Aug. 31. It follows two previous rounds that were marked by aggressive bidding that rewarded companies from Asia and Europe.
To participate in this year's bidding process, a company or consortium must submit an application and certain qualification documents to NOC by Sept. 9. After evaluating the applications, NOC will deliver its decision in writing by Sept. 22 to all qualified applicants.
Data room sessions will be held at NOC in Tripoli during Sept 9-Nov. 10, but will be limited to qualified bidders and approved consortia members, NOC said. During these sessions, bidders will receive a complete bid package for each contract area of interest, containing: instructions and bidding procedures, technical data, the EPSA model, a commitment letter, and a bid guaranty form.
The mandatory data room access fees will be announced during the technical presentations.
During Sept. 28-Oct. 16, any clarification or comments related to the bid package must be submitted in writing to the organizing and supervising committee. NOC will study and will include relevant comments in the bid package that is to be circulated to all qualified participants by Oct. 30.
The bid opening date is Dec. 20 in Tripoli. Bidders must submit their bids, by hand, in a sealed envelop at 8 a.m. through 10 a.m. A bid opening ceremony will be conducted in public and in the presence of the legal representatives of the bidders on the bid opening date. Except for a single bidder, the winning bidders will be announced at the end of the session.
Signing of the EPSA is expected during the first half of January 2007.
