Press Release

SELECTION PROCESS OF THE PREFERRED PARTNER FINALIZED: RDK STARTS NEGOTIATION

Willemstad, January 5th 2021 – In a press release dated December 11th 2020, Refineria di Kòrsou (RdK) informed the community that all participants that were short-listed in the selection process focused on achieving a strategic partner for the refinery facilities, received a one-week extension on the date on which the binding proposals should have been submitted.

On December 18th the Project Management Organization (PMO) received the binding offers of those parties that were short-listed. Through a transparent process and following a thorough analysis, PMO offered its recommendation to the RdK management. Hereafter, the RdK Management offered the Supervisory Board of directors a proposal concerning the candidate with which negotiations should continue. On the 2nd of January the statutory bodies of RdK approved the recommendations offered by the management of RdK.  The Council of Ministers also reconfirmed the approval issued by the statutory bodies of RDK, in accordance with the RDK statutory bylaws. The candidate that was selected to continue negotiations with is Curaçao Oil Refinery Complex B.V. (CORC B.V.).

The negotiations will start immediately in order for RdK and the mentioned party to reach an agreement on the management and participation model. The mentioned party will also be negotiating with the Government of Curaçao on an agreement that will cover the conditions regarding management and operations of the oil facilities in Curaçao. In accordance with the approved timeline, the negotiations for all contracts are expected to start simultaneously and it is anticipated that a final agreement should be signed by the beginning of this March.

RdK will continue its efforts to inform the community regarding developments concerning the oil industry in Curaçao.

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