Press Release

RDK REQUEST PARTIES TO SUBMIT EXPRESSION OF INTEREST FOR OPERATION OF THE CURAÇAO REFINERY

Willemstad August 9, 2020- Refineria di Korsou (RdK) has recently abandoned the process of exclusive negotiations with the previously selected preferred bidder for operation of the Curacao Oil Facilities.  With the termination of that process, RdK is in the position to start a new process and look for other parties that are interested in operation of RdK’s Oil Facilities. 

The Curaçao Oil Facilities consist of the Refinery, the Bullenbay Terminal and the integrated Utilities Plant.  On August 6th, 2020 RdK initiated a new process of seeking interested parties to participate in Project Arawak that has a mandate to select a long term partner for the Curaçao Oil Facilities.  The Project Management Team (PMO) installed by RdK issued a teaser letter to some selected parties. Other interested parties are requested to contact Ed Scardaville of IHS-Markit at email Project.Arawak@ihsmarkit.com.  The deadline for parties to enter their notice of interest is August 14th, 2020.

The PMO launched a transparent process with well-defined criteria to select potential parties. Important in the selection of a new party is access to crude and product off-take markets as well as the financial resources to execute backlog maintenance.  PMO projected a time-line with important milestones for the coming months.  To parties that meet the selection criteria, a Request for Proposal will be issued by mid-August.  Parties are expected to present non-binding proposals by mid-October and RdK will sign a Letter of Intent with the best bidders by November 2020.  PMO expects to have selected a preferred bidder by December 2020 and PMO will then start the negotiations with the preferred bidder.

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