Refineria di Kòrsou (RdK) and CORC BV have signed a ‘Draft Deed’. The agreement lays the foundation for management and operation of the refinery, the utility plant and the terminal at Bullenbaai.
In addition to the ‘Draft Deed’, the parties signed a ‘Binding Closing Agreement’ which contains the conditions which CORC must comply with prior to the handover of the facilities.
In the ‘Draft Deed’ the parties agreed upon all details needed in order for the handover of the petroleum facilities to take place. Upon approval by the supervisory board of directors of RdK and the Government of Curaçao (as RdK’s shareholder) the deed will be formalised by a notary public.
The two parties also agreed on a ‘Binding Closing Agreement’. This agreement contains the conditions which CORC will have to comply with prior to the definitive handover of the facilities. An example of these conditions is the Government Agreement which contains various aspects like compliance with local nuisance laws and fiscal facilities.
The negotiations between RdK and CORC began at the start of this year, following a rigorous binding process, through which CORC was selected as the preferred partner to conduct negotiations with. The signing of the ‘Draft Deed’ and the ‘Binding Closing Agreement’ marks the end of the negotiation between RdK and CORC.
In a statement, the companies said: “Both the management of RdK as well as CORC are pleased to have reached this important agreement regarding the handover of the management and operations of the oil facilities of Curaçao while headed towards a new and prosperous future.”
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