Guyana seeking consultant to prepare third EITI report

Must Read

OilNOW is an online-based Information and Resource Centre

In keeping with the requirements stipulated by the Extractive Industries Transparency Initiative (EITI), Guyana, through the Ministry of Natural Resources is in search of the services of an independent administrator to prepare the third report of the local transparency body, GYEITI.

The objectives of this assignment are to conduct a gap analysis and prepare a report on same for the implementation of EITI’s standards in Guyana. It was noted that this analysis must take into consideration the previous scoping studies, reports, most recent and on-going reforms, existing systems, procedures, practices in data and information collecting, and processing all of the relevant government ministries, agencies, departments, especially those which are recipients of revenues from the extractive industry.

Further, the consultant will be tasked with reviewing all legislations pertaining to the extractive sectors with a view to identifying all gaps necessary to ensure compliance with the EITI standards.

In addition, the specialist would be required to provide a detailed status update and identify additional actions required to implement the recommendations from the first, second and third GYEITI reports.

The Request for the Expression of Interests (REOI) indicated that Guyana had received a US$20 million loan from the World Bank towards the Guyana Petroleum Resources Governance and Management Project and the government intends to apply part of it towards paying for the consulting services.

The EITI is a global standard for improving transparency and accountability in the oil and gas and mining sectors. EITI’s implementation has two core complements which are transparency and accountability.

Under transparency, oil, gas and mining companies disclose information about their operations, including payments to the government. The government in turn disclosed its receipts and other relevant information in the industry. The figures are reconciled by an independent administrator and is published alongside other information about the extractive industries.

Regarding accountability, a multi-stakeholder group with representatives from the government companies and civil society is established to oversee the process and communicate the findings of the EITI reporting and promote the integration of the EITI into broader transparency efforts.


Partnered Events

Latest News

Hess facing three lawsuits over disclosures in Chevron deal

(Reuters) - Oil producer Hess (HES.N) on Tuesday said it is currently facing three lawsuits alleging inadequate disclosures over...

More Articles Like This