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Govt. seeking consultant to prepare Guyana’s 5th EITI report

Jul 26, 2023 News

Kaieteur News – The Ministry of Natural Resources has announced that it is soliciting the services of a qualified consultancy to prepare the country’s 5th Extractive Industries Transparency Initiative (EITI) Report for the fiscal year 2021.

The specific consultancy services required pertain to the role of Independent Administrator (IA) under the GUYEITI Sub-Component of the Guyana Petroleum Resources Governance and Management Project (GPRGMP), funded by a $20 million World Bank (WB) loan.

The consultant, BDO LLP, prepared Guyana’s last EITI report for the fiscal year 2019.

The project’s objectives include tackling governance vulnerabilities in the extractive sector, fostering industry transparency, facilitating the transition to renewable energies, encouraging disclosure of licensing and environmental data, and integrating transparency data on social and environmental impacts of oil, gas, and mining projects.

Guyana’s extractives sectors are riddled with issues regarding a lack of transparency, especially in the mining sector. The country’s EITI membership had been suspended for failing to complete and submit its report by the deadline. However, Guyana’s membership has since been reinstated, following completion of the report. The government has committed to giving its support for the diligent completion of Guyana’s EITI reports.

The chosen IA will be expected to conduct a comprehensive gap analysis, reviewing all legislation pertaining to the extractive sector, and identifying gaps between existing and required legislation necessary for EITI Standard compliance. The analysis will consider energy transition, gender and women’s empowerment, anti-corruption efforts, and beneficial ownership.

Furthermore, the IA will deliver a detailed PowerPoint presentation outlining the methodology to be employed in the completion of the 2021 Report. This presentation should cover every phase of the reporting process, identifying responsibilities, and defining clear communication procedures for each step.

The IA will also provide training and guidance to all reporting entities on how to complete the summary data templates. Furthermore, the IA will assess Guyana’s mining fiscal and legal regime in terms of managing potential demand booms for critical minerals needed for the growth of the renewable energy industry and within the energy transition process.

The assignment will commence in September 2023 and is estimated to last six months, during which the consultant is expected to be physically present in Guyana.

Eligible consulting firms are invited to express their interest in providing these services. Prospective consultants must provide evidence demonstrating relevant qualifications and experience, such as descriptions of similar assignments, experience in similar conditions, and the availability of appropriate skills among staff. Prior EITI reporting experience, while not required, is considered beneficial. Joint ventures are also welcome to express their interest.

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