In a competitive bidding environment in Tanzania and East Africa petroleum market where numerous companies are bidding on one project, it is vital to continuously collect reliable market intelligence on your opportunity, competitors, and customers. This will support the qualification process and reassure you that you target the right opportunity that has the likelihood of realization.
Although the East African oil and gas industry has already survived the covid-19 pandemic, project owners still want to improve their production target and develop their project with minimum capital investment and resources.
What you and your company should ask yourself critical questions before bidding for the project?
Competition: Who else is bidding on this project, and what are your chances of winning?
Bidding cost: What are the budget and estimated bidding cost?
Execution capability: Do you have the capability to execute the project profitably?
Local content requirement: What is the local content requirement in the host country? Can you find skilled local personnel and local suppliers to deliver the project on time and within budget?
Answering these questions would help you target the right opportunities, increase your success rate, and reduce the risk of pouring your time and effort into a project with no likelihood of realization.