Press Release

SUBMISSION OF THE BINDING PROPOSAL BY PARTIES EXTENDED BY ANOTHER WEEK

Willemstad December 11th, 2020 – In a press release dated November 27th, Refineria di Kòrsou (RdK) informed that the date for submission of the binding proposal by interested parties was extended to December 11th.

The ongoing efforts by RdK to inform the participating parties on all details concerning the operation of the oil facilities and to enable the parties to complete their due diligence process, has taken more time than expected. Experts of several parties could not travel towards Curaçao in order to visit the facilities, which resulted in additional video conferences and calls needed to clarify key items. Furthermore, due to the magnitude of the required investments, multiple evaluations by the consortium partners need to be completed as part of their decision-making process.

The objective of the Project Management Organization (PMO) of RdK, is to provide all participating parties with equal opportunity and access to relevant information. Several parties had requested an extension of the deadline for submission of the binding proposal. After consultation with the statutory bodies of RdK, it was agreed upon to accommodate the parties and have the submission date of their non-binding proposals be extended to December 18th. According to the approved timeline, PMO expects the evaluation and approval process to be finalized in the last week of December.

RDK will continue its efforts to keep the community informed regarding the developments concerning the important process of finding a strategic partner for the oil industry in Curaçao.

-END-