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Tenders for using hydrocarbon resources to run under revised regulations

2014-09-29

The Government has approved tender regulations for the use of hydrocarbons revised by the Ministry of Environment, now to serve as basis for conducting such tender procedures. The revisions were developed to improve the procedure for conducting and implementing tender procedures on the use of conventional and non-conventional hydrocarbons.

Some of the more important changes include revised requirements for a bank guarantee that the obligations set forth in the tender will be fulfilled properly. One of the criteria to select the successful tenderer has been changed as well. A tenderer will be acknowledged as successful not only based on the contribution amount, as before, but also based on invested amounts.

In addition, the revised regulations provide that the successful tenderer must pay the offered contribution within 30 calendar days after the contract on the use of hydrocarbon resources is signed rather than from the date of selecting a successful tenderer. This provision used to be ambiguous to the tenderers and organisers of the previous tender procedure.

based on the revised regulations, hydrocarbon tender procedures will be more transparent and better regulated. Plans are to call for a repeated tender on the use of hydrocarbons in the Šilutė-Tauragė field and a new one in the Kaltinėnai field.

Public information division
29/09/2014


Minister of Environment of Lithuania Kęstutis Navickas
Minister of Environment of Lithuania Kęstutis Navickas