STERLING OIL EXPLORATION AND ENERGY PRODUCTION COMPANY LIMITED (STERLING)- TENDER OPPORTUNITY FOR PROVISION OF INSURANCE SERVICES (USD AND NAIRA) FOR THE CATEGORIES 3.14.05 (LIFE INSURANCE SERVICES) & 3.14.07 (NON-LIFE INSURANCE SERVICES INCLUDING ENERGY PACKAGE)

STERLING OIL EXPLORATION AND ENERGY PRODUCTION COMPANY LIMITED (STERLING)
OPERATOR OF THE ONSHORE (PSC) BLOCKS OML 143, 146 & 157 AND OPLS 2005 & 2006
TENDER OPPORTUNITY
FOR PROVISION OF INSURANCE SERVICES (USD AND NAIRA) FOR THE CATEGORIES 3.14.05 (LIFE INSURANCE SERVICES) & 3.14.07 (NON-LIFE INSURANCE SERVICES INCLUDING ENERGY PACKAGE)
FOR STERLING PSC BLOCKS OMLS 143, 146 & 157 AND OPLS 2005 & 2006
(NIPEX TENDER NO. 1000006756)

1. INTRODUCTION
Sterling Oil Exploration and Energy Production Company Limited (SEEPCO), Sterling Global Oil Resources Limited (SGORL). Sterling Global Exploration and Production Ltd (SGEPL), Sterling Exploration Limited (SEL) and Sterling Internationals Resources Limited (SIRL) under the group of companies herein referred to as STERLING plans to engage the services of reputable Nigerian registered Insurance Companies having ‘world class’ experience in the Provision of Insurance Services (USDB & Naira) for the categories 3.14.05 (Life Insurance ) & 3.14.07 (Non-Life Including Energy Package) for STERLING PSC Blocks i.e OMLS 143, 146 & 157 and OPLS 2005 & 2006. This is a combined tender for the five blocks operated by Sterling Group of companies. The estimated primary duration of this contract is one year with an option to extend it for another two years.

2. SCOPE OF WORK/SERVICE REQUIREMENTS
Provision of Insurance Services (USD & Naira) for the categories 3.14.05 (Life Insurance) & 3.14.07 (Non-Life Insurance Including Energy Package)
The Oil & Gas insurance would cover all well operational insurance for physical loss and/or damage to property, and General third-party liability risk to wells and production facilities. The insurer shall retain a percentage of the risk in Nigeria and re-insure the excess capacity with leading foreign underwriters with A-ratings by standard and poor or A rating by A.M Best. The insurer will liaise with appointed re-insurance brokers for the purpose of re-insurances with a foreign underwriter. The insurer shall retain a minimum 70 percent of the risk in Nigeria.
The insurer will handle all claim services, endorsements, policy documentation and other associated services.
For the Naira Insurance Policies, the insurer shall retain 100% of the risks and shall also liaise with the appointed insurance broker for the purpose of good underwriting claims administration, Policy documentation, renewals. Endorsements etc.
For the USD Insurance Policy, the insurer shall retain percentages of the risk in Nigeria and reinsure the remainder of the risk with leading international underwriters. The Insurer shall justify by verifiable proof of evidence with NAICOM approvals certifications, that all in-country capacity with leading international underwriters. The insurer shall liaise with the appointed reinsurance Brokers for the purpose of reinsurance with foreign underwriters with minimum of A rating by an international rating agency. The Insurer shall also handle claims services, Policy documentation, renewals, endorsement etc.

3. BASIC REQUIREMENTS
Any Insurance company seeking to be selected must satisfy the following conditions:
• Be a Limited Liability Company registered in Nigeria and licensed by the National Insurance Commission (NAICOM) to transact General Insurance Business.
• Have a net asset of not less than N3 billion as per its last published accounts for its generated business.
• Have acquired good experience in Oil and Gas Insurance business.
• Have adequate and qualified staff with experience in Oil and gas Insurance business.
• Must be in good standing as regards prompt settlement of all claims reported to date.
• Must be a good corporate citizen of Nigeria that pays its taxes as and when due (VAT, WHTS and PAYEE etc.
• Certificate of compliance from the Pension Commission (PENCOM)
• Certificate of compliance from the Industrial Training Fund (ITF)s
• Group Life Insurance Certificate for Employees.

4. MANDATORY REQUIREMENTS
• To be eligible for this tender exercise, only interested bidders are required to be pre-qualified in the product service category (as mentioned against tender under SI. No. 2 scope of work/service requirements above) in Nipex Joint Qualification System (NJQS) database. All successfully prequalified Bidders in above category by the bid close date will receive invitation to technical tender (ITT).
• Please note, interested bidders including their sub-contractor(s) shall be required to:
• Meet all JQS mandatory requirements to be listed as “PRE-QUALIFIED” for a category in the NJQS database.
• Meet all Nigerian Content requirements stated in this advert in their responses to the Invitation to technical tender. (Failure to meet the Nigerian Content requirements is a “FATAL FLAW”
• To determine you are pre-qualified and view product/service category you are listed for, open http://vendors.nipex-ng.com and access NGS with your login details, click on continue Joint Qualification Scheme tool, click check my supplier status and then click supplier product group.
• If you are not listed in a product/service category you are registered with OPR to do business, contact NipeX office at 8, Bayo Kuku Rood, Ikoyi, Lagos with your DPR certificate as evidence for necessary update.
• To initiate the NIOS prequalification process, access www.nipex.ng.com to download the application form, make necessary payments and contact NipeX office for further action.

5. NIGERIAN CONTENT REQUIREMENTS
STERLING Group is committed to be development of the Nigerian Oil & Gas business in accordance with the Nigerian Oil and Gas Industry Content Development Act 2010 (NOGICDS ACT) enacted by the Federal Government of Nigeria in April 2010.
Pursuant to enactment of the NOGICD Act, the minimum Nigerian Content in any project, service or product specification to be executed in the Nigerian Oils and Gas Industry shall be consistent with the level set in the schedule of the Act and any other target as may be directed by the Nigerian Content Development and Monitoring Board (NCDMB).
Interested bidders shall comply with the provisions of the NOGICD Act and all applicable regulations. Bidders that do not meet the Nigerian Content criterion will not be allowed to participate in next tender stage.
Nigerian Content (NC) in Nigeria Oil and Gas industry is defined as:
“The quantum of composite value added to or created in the Nigeria Economy by a systematic development of capacity and capabilities through the deliberate utilization of Nigerian human, material recourses and services in the Nigerian Oil & Gas industry”. Nigerian company is a company formed and registered in Nigeria in accordance with the provision of companies and Allied Matters Act with not less than 51% equity share by Nigerians.
The following are the Nigerian Content requirement bidders are expected to comply with in their technical submission:
• Demonstrate that entity is a Nigerian-registered company with greater than 51% Nigerian Shareholding. Submit certified true copies of CAC forms 10, 02 & 07 (or its equivalent; CAC 2.3, 2.4, 2.5 etc) and registration on the NCDMB NOGIC JQS and NUPRC certificate.
• Provide evidence of a license issued by National Insurance Commission (NAICOM) as an insurer to transact General Insurance business.
• Provide detailed description of the location of in-country committed facilities & infrastructure (Technical/Administrative office) in Nigeria to support this contract.

6. CLOSE DATE
Only tenderers who are registered with NJQS Product/Category (as mentioned against tender under SI. No. 2 scope of work/service requirements above) by 17:00 hours. August 29, 2023. Being advert close shall be invited to submit techno-commercial bid.

7. PLEASE NOTE THE FOLLOWING
• Suppliers eligible for this tender opportunity are expected to be prequalified in NJQS under the relevant product/service category.
• The invitation to tender (ITT) and any further progression of this tender shall be via Nipex, Interested bidders are therefore advised to ensure they are set-up in Nipex with a valid and active official company email address accessible by all in their organization as this shall be the only means to transmit the ITT.
• All cost incurred in preparing and processing NJQS prequalification shall be to the contractor’s accounts.
• This advertisement shall neither be construed as any form of commitment on the part of STERLING to award any contract to any company and or associated companies, sub-contractors or agents, nor shall it entitle prequalified companies to make any claims whatsoever, and/or seek any indemnity from STERLING and or any of its partners by virtue of such companies having been prequalified in NJQS.
• The tendering process shall be the NNPC contracting process requiring pre-qualified companies to submit techno-commercial tenders. Following a technical review, only technically and financially qualified bidders will be considered for commercial evaluation.
• STERLING/NNPC reserves the right to reject any and or all pre-qualified suppliers at its sole discretion and at no cost whatsoever.
• STERLING will communicate only with authorized officers of the pre-qualifying companies and NOT through individuals or Agents.
• Please visit the NipeX public opportunity portal at www.secure.nipex-ng.com for copy of this advertisement and any other required information

NCDMB Certification Number: ES/NCDMB/SEEPCO/ADV/UPD/200723