STERLING OIL EXPLORATION AND ENERGY PRODUCTION COMPANY LIMITED (STERLING)-INVITATION TO TENDER FOR PROVISION AND ADMINISTRATION OF INSURANCE SERVICES FOR THE CATEGORIES 3.14.05 (LIFE INSURANCE SERVICES) & (NON-LIFE INSURANCE SERVICES INCLUDING ENERGY PACKAGE)

NNPC
SEEPCO
STERLING OIL EXPLORATION AND ENERGY PRODUCTION COMPANY LIMITED (STERLING)
OPERATOR OF NNPC LTD ONSHORE (PSC) BLOCKS OMLs 143, 146 & 157 AND OPLs 2005 & 2006
PROVISION AND ADMINISTRATION OF INSURANCE SERVICES FOR THE CATEGORIES 3.14.05 (LIFE INSURANCE SERVICES) & 3.14.07 (NON-LIFE INSURANCE SERVICES INCLUDING ENERGY PACKAGE)
(NipeX Tender No.1000008268)

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 International Resources Limited (SIRL) under the group of companies herein referred to as “STERLING”, Operator of NNPC Ltd’s OMLS 143, 146 & 157 and OPLS 2005 & 2006 invites interested and reputable insurers with competent and skilled personnel, equipment and relevant experience to apply for pre-qualification for consideration to tender for the Provision and Administration of Insurance services for STERLING operations.

2. BRIEF DESCRIPTION OF WORK SCOPE AND SPECIFICATIONS
This Contract is for the provision and administration of insurance services.
The objective of the Call For Tender (CFT) shall be to award contracts to multiple technically qualified bidders with the best competitive commercial offers for the provision of Insurance Services for STERLING Oil and Gas operations.
The Scope to be covered under the contract is to provide insurance programme for the following operational coverage/services:
– STERLING PSC Blocks- OMLs 143, 146 & 157 and OPLs 2005 & 2006- Property Damage, Operator’s Extra Expense, and Third-Party Liability.
– Naira Denominated Policies – Group Life Assurance, Group Personal Accident Insurance, Motor Insurance, and Combined All Risk Insurance.

PROJECT DELIVERY SCHEDULE
The schedule requirement is to have a contract in place by Q4 2026. The Call for Tender will detail the provisions necessary for the Service. Contract duration is estimated at 5 years firm and an annual option of extension for a further period of two (2) years, where the highest technically qualified bidder will emerge as the Insurer and act on behalf of the co-insurers, to avoid concentration of risks and leadership roles with a single Insurer.

3. CONDITION FOR SELECTION
Insurance Company seeking to be selected must satisfy the following conditions.
1. Be a Limited Liability Company registered in Nigeria and licensed by the National Insurance Commission (NAICOM) to transact Insurance Business.
2. Must have valid registration with Nigerian Upstream Petroleum Regulatory Commission (NUPRC) under relevant category, expiring not earlier than 31st December 2026.
3. Have a net asset of not less than N10billion and N15billion for Life and Non-Life (General) Insurance respectively.
4. Have acquired relevant experience in Oil and Gas insurance business.
5. Have adequate and qualified staff with experience in Oil and Gas insurance business.
6. Must be in good standing as regards prompt settlement of all claims reported to date.
7. Have good re-insurance strategy, including use of A-rated re-insurance companies.
8. Have business relationship with competent Insurance Broker(s) with good reputation and experience in Oil and Gas Insurance business.
9. Must have obtained tax clearance certificate for the past three years (2023, 2024 & 2025).
10. Must have current certificate of compliance from PENCOM.
11. Must have current certificate of compliance from ITF.
12. Must have current certificate of Group Life for its employees.

4. MANDATORY REQUIREMENTS
– To be eligible for this tender exercise, interested suppliers are required to be pre-qualified and have a “LIVE” subscription status in the following NQGS service/product group in the Life and/or Non-Life (3.14.05 and/or 3.14.07) by the CFT advert closing date. All successfully pre-qualified suppliers in these categories will receive an invitation to submit their Technical Tender (ITT) for the services.
– To determine if you are pre-qualified and view the product/services category you are listed for: visit https://vms.nipex.org/login and access NJQS with your log in details. Click on ‘Subscription’ tab on the left-hand side of the dashboard to view your status and, click ‘Product Code’ tab to view registered product codes.
– If you are not listed in the product/service category mentioned above but you have registered with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to do business in the Nigerian Oil & Gas Industry in those areas, please contact the NipeX administration office at Post Square Towers (Building B), 1. Ologun Agbaje Street Off Adeola Odeku Street, Victoria Island, Lagos, Nigeria with your NUPRC certificate as evidence for verification and necessary update.
– To initiate the NJQS pre-qualification process, access https://www.nipex-ng.com, click on the Registration tab, and select NipeX SAP Ariba Vendor Registration.
– To be eligible, all tenders must comply with the Nigerian content requirements in the NipeX system.
– Only Nigerian indigenous service companies having verifiable Nigerian equity shareholding of 51% and above shall submit bids for this tender.

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