With only two of the six awarded bidders for oil blocks here meeting industry standards, the government said the criteria were relaxed for the auction awards process but promised a thorough due diligence process during the negotiations round.
“I don’t think they assessed the individuals. They assessed the proposals made. So that is how the due diligence was done; on the proposals. So, the consultants did that and then our evaluation team looked at the consultants’ reports,” Vice President Bharrat Jagdeo said on Wednesday.
“When we get to the contracting stage… this is where [it will be more vigilant], because this is where you have to talk about concluding deals, to deliver on what you put in a proposal, because your proposal was assessed. So, when you come to that stage, that is where you have to be more vigilant and vigilance has to be exercised,” he added.
