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Egypt to issue first global tender for oil, gas exploration in Red Sea

CAIRO – twenty five October 2018: Egypt’s fossil oil sector can issue its international tender for oil and gas exploration within the Red Sea before the end of 2018 as presently because the information of the primary phase of the seismal scientific research is completed, in keeping with petroleum Minister Tarek el-Molla.

The minister affirmed that the arena succeeded in overcoming all the crises and challenges it featured throughout the amount of 2011-2012, that was a stage of instability. the arena was in a position in 2013 and 2014 to revive stability.

He added that the arena completed its reforms throughout the period from 2015 to 2018, once the strategy adopted proactive events and attending to prevent crises that will occur and succeeded in securing all the requirements of the electricity sector, still because the trade and domestic uses of gas and petroleum products.

Molla observed that the bill for the availability of crude oil merchandise to the domestic market rose to quite $1.5 billion per month thanks to the increase in world oil costs throughout the last period.

He noted that in one year, four major Egyptian gas fields within the Mediterranean were placed on the production map of the fields of Zohr, Atoll, Norus and North Alexandria, with associate investment of regarding $27.2 billion and a complete production of 6.5 billion cubic feet of gas per day, that contributed to achieving autonomy of gas.

The minister added that the oil sector is presently implementing associate formidable program to develop and modernize the oil sector to satisfy the challenges of the approaching period. It conjointly focuses on achieving the added worth and optimum economic utilization of Egypt’s natural resources through producing industries and moving forward to show Egypt into a regional center for commerce in gas and oil.

This came throughout Molla’s speech at the seminar organized by the Egyptian-Canadian Business Council and also the Egyptian Business Council, entitled “Egypt on the worldwide map of oil and gas” within the presence of Minister of atmosphere Yasmin Fouad, and a number of former ministers, ambassadors and heads of Egyptian and foreign oil firms.

Molla added that the strategy of the arena has 3 main axes: increasing and diversifying energy provide and demand management still as achieving money sustainability by addressing debt arrears, reforming the grant system and coping with internal debt, and rising sector management and structural reforms and inspiring private sector investments through supporting legislation; like the Gas Market regulative Act.

He conjointly remarked the speed of delivery of gas to homes that is presently accelerated at intervals the national project adopted by the state to deliver gas to any or all elements of Egypt; all this comes at intervals the ministry’s arrange to develop services.

The minister aforesaid that the come of developing and modernizing the oil sector is to lift the potency of performance, cut back the price of production, increase economic process through attracting investments, contribute to extend value and improve the business deficit still because the provision of hard cash through redoubled exchange flows and revenues, increase oil and gas production rates, and cut back the import bill, besides making certain the sustainability of energy sources to fulfill the country’s needs of crude oil and gas.

He conjointly added that Egypt succeeded in reducing the entitlements of foreign partners to but one third to achieve $1.2 billion, that is that the lowest worth of the entitlements of partners since june 2010; it’s meant to still pay the dues fully bit by bit, frequently paying the foreign partners the worth of buying their share of oil and gas.

Click for Sample Tenders of your sector interest

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Bidding Process

The process of tendering involved some kind of complicated procedures unlike with E-Procurement Software. Before any tendering process can be done, a professional team must be ready with all the tendering documents to check and approve it. The source of funding must also be available and the project financing should be put in place. The government projects are usually made open tenders in order to ensure that the procurement and works to be done in a fair manner without prejudice. With the involvement of information and communication technology the tendering process has been much simplified.

The 5 main steps in the e-tendering process include:

1. The Tender Process is Determined:
How to register for e tendering? The organization which requires the tender will determine the type of tender that will be used, and what will be involved in the process
• Expressions of Interest (EOI)- used to shortlist potential suppliers before seeking detailed offers.
• Request for information (RFI) – used in the planning stage to help in defining the project however not used to select suppliers.
• Request for proposal (RFP)-used where the project requirements have been defined, but an innovative and flexible solution is required.
• Request for Quotation(RFQ)-invites businesses to provide a quote for the provision of specific good or services
• Request for tender-an invitation to tender by public advertisement open to all suppliers.

2. Request for Tender is Prepared:
The tender request includes what is required, the requirements of the contract and how you should respond. These are an invitation to the suppliers to provide a competitive offer to win a contract for the supply of their products or services. Elements for tender request include:

• Description of the good and services to be procured.
• Conditions of Tender.
• Evaluation Process.
• Submission content and format.
• Process rules and information.
• Conditions of Contract.

3. Tenders are invited:

The tenders are invited as a part of the online tender submission procedure depending on the value, complexity and business category. Your ability to identify opportunities in the competitive tender market Is a crucial part of achieving success. Tender advisory services and online information systems are a great place to begin your research.

4. Evaluation and Selection:
Each tender will be checked for compliance and then evaluated across the criteria specified in the tender documentation. The tender, which offers the best value for money, will win the business.
If any tender does not meet this initial check they will be excluded.
Hence, it is important to ensure that you adhere to requirements and meet all criteria in order to increase the chances of winning the tender.

5. Contracts Established and Managed:
Generally, a formal agreement will be required between the successful tender and the relevant agency. Once you are notified of the success of your tender and have awarded the contract, it is important to meet all requirements and manage the contract effectively.
It is important to maintain ongoing and open communication with the contracting organization so that you can build a strong and sustainable relationship.

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