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Members of the public will recall that our 2002/2003 International Petroleum Bid Round was closed on the 30th May, 2003 and three Companies submitted bids. The bid Evaluation Committee, chaired by the Honourable Vice-President and comprised of - 1. Alhaji M.S. Deen - Minister of Mineral Resources 2. Mr. Roger Welch - Regional Exploration Manager of T.G.S./NOPEC 3. Prof. V.E. Strasser-King - Fourah Bay College 4. Hon. Edward Turay - Member of Parliament 5. Hon. Dr. Fatmata Hassan - Member of Parliament 6. Mr. El Tayib Bah - President of SLAJ 7. Mr. Fokai Demby - Businessman 8. Mrs. Abator Thomas - President, 50:50 Group 9. Dr. S.S. Banya - Special Adviser to the President Considered the bids submitted by Repsol YPF, Oranto Petroleum and #8 Investments Inc. The Committee decided to award Blocks 6 and 7 to Repsol YPF, a major Spanish Oil Company, Block 5 to Oranto Petroleum, an independent producer from Nigeria, and Block 4 to # 8 Investments Inc., a new USA Company. These Companies have been given up to ninety days within which to accept the awards and negotiate Agreements which are based on our Model Petroleum Agreement. After conclusion of negotiations, it is expected that the Companies will start the first phase of exploration with definitive seismic programmes. -END OF STATEMENT- |
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