BRISBANE, Australia, June 13 /Xinhua-PRNewswire/ -- Bahrain Petroleum Company (BAPCO) has signed a partnership agreement with Quadrem, a leading Oil and Gas e-Marketplace provider, for the first phase development of e-tendering and e-procurement.
Quadrem was selected following a Public Open Tender, placed in December 2006, which attracted 14 bids. A thorough evaluation of these bids was completed on 25th April, 2007.
A BAPCO spokesman explained that implementation of e-tendering and e-procurement solutions is part of an overall BAPCO initiative to improve efficiencies, reduce costs and provide extended transparency in procurement, and will support e-government initiatives and Tenders Board regulations.
BAPCO Tenders and Purchase Orders will be transmitted electronically via Quadrem's secure platform to participating suppliers and contractors. Recipients will then send Acknowledgements and Bid Responses back electronically to BAPCO, closing the loop. He stated that Quadrem has a very high standard of data security and encryption, which will ensure the confidentiality of supplier and contractor information.
The first phase implementation should enable process efficiencies, improved communication and cost savings for all parties and will address the needs of local suppliers and contractors. Supplier Engagement Workshops are planned over the coming months for suppliers and contractors who are asked to participate in the pilot phase.
On successful completion of this phase, BAPCO plans to extend e-procurement into a full long-term solution, in order to provide a global roll-out of the e-tendering and e-procurement initiative to all its suppliers and contractors. BAPCO is fully committed to a long-term electronic procurement strategy and believe there are many benefits to be gained for both BAPCO and its suppliers and contractors in using electronic processes in the Supply Chain.
Quadrem established its Middle East Office in Dubai in 2005. Since then, it has been promoting the development of the Oil and Gas e-procurement market throughout the region.
Charles Jackson, CEO of Quadrem International, added, "We are pleased that BAPCO, the national oil company in the country where oil was first discovered in the GCC, has chosen to select us as their e-procurement partner. We are confident and excited to take the benefits of e-procurement to BAPCO and their supplier community."