NNPC Release Statement Concerning Pipeline Rehab Contracts

The Nigerian National Petroleum Company Limited (NNPC Ltd) has made it clear that the contracts for pipeline rehabilitation were given out in compliance with industry standards and after considering several evaluation factors.
The information was provided by the management of NNPC Limited in a statement released over the weekend in response to media reports that alleged shady deals occurred during the contract award.
It said that the contracts, which were advertised, were chosen in accordance with accepted standards of the sector and after thorough review.
“The attention of the NNPC Ltd has been drawn to reports in an isolated section of the media alleging underhand dealings in the award of contracts for the rehabilitation of pipelines across the country.
“It is crucial to provide accurate information to address any misconceptions and ensure transparency in our operations.
“We would like to state categorically that these reports are fallacious and designed to bring the good name of the Company into disrepute.
“NNPC Limited is deeply committed to adhering to the highest standards of transparency and global best practices in all our activities, and this includes our contracting process,” it said.
Reiterating its commitment to transparency, The NNPC Limited said that the selection process was conducted to a competitive tender that was informed by Infrastructure Concession Regulatory Commission knowledge, Bureau of Public Procurement standards, and the active participation of a Transaction Advisor.
It stated that the project development team and the evaluation process included representatives from NEITI and the Ministry of Justice.
“It is imperative to emphasise that these contracts are Build, Operate and Transfer agreements, and selected partners are to finance the rehabilitation and do not entail the transfer of control of these assets to any particular company,” it said.
It stated that its goal was to improve the pipelines’ integrity and functionality in order to make it easier to transfer crude oil to refineries and distribute its products around the nation.
The NNPC management asserts that NNPC Limited continues to be the legal owner of these vital national assets and that it is completely committed to guaranteeing their continuing operation in the best interests of more than 200 million Nigerians.
Certain media outlets recently reported that NNPC Ltd. had given lucrative pipeline rehabilitation contracts to four oil businesses, including two downstream merchants.

Source: allnewsng.com

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