Latest update April 24th, 2026 12:40 AM
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Two firms bid over $30M to prepare for 8th and 9th EITI reports
(Kaieteur News) – Two companies have submitted proposals to serve as an Independent Administrator (IA) for the preparation of Guyana’s eighth and ninth Extractive Industries Transparency Initiative (EITI) reports, covering fiscal years 2024 and 2025.
BDO Professional Services Inc. and SphereX Professional Services Inc. submitted their proposals of $35,500,000 and $33,343,100 respectively to the National Procurement and Tender Administration Board (NPTAB). The bids were opened on Tuesday.
The Ministry of Natural Resources (MNR) had invited proposals on behalf of the Guyana Extractive Industries Transparency Initiative (GYEITI).
The contracted firm will be required to support the GYEITI Multi-Stakeholder Group (MSG) in producing timely, comprehensive and reliable reports for the two fiscal years. Both reports must be completed and ready for publication on or before October 30, 2026.
Among the key responsibilities outlined are the preparation of a scoping study and gap analysis to guide decisions on the scope of the reports, including a comprehensive assessment of the fisheries sector.
The IA will also be required to make an evidence-based recommendation to the MSG on whether fisheries should be incorporated into the reporting framework for the fiscal years.
The task is to also consolidate reports organised by sector, with dedicated sections for oil, gas, mining and forestry, and fisheries should it be included. Additional deliverables include open data files, standardised summary data templates for submission to the EITI international secretariat, a summary of the reconciliation report, and an assessment of the comprehensiveness and reliability of disclosures. Technical and analytical support to the MSG in developing recommendations to strengthen natural resource governance is also required.
EITI is a global standard for improving transparency and accountability in the oil, gas, and mining sectors. EITI implementation rests on two core pillars, transparency through disclosure and reconciliation of company payments and government revenues, and accountability through oversight by a MSG comprising representatives of government, industry, and civil society.
Guyana joined the EITI in 2017 to advance and promote transparency and accountability in managing oil, gas, mineral, and other natural resources. GYEITI has published several reports since 2017. GYEITI recently released it’s the 2023 report on transparency in Guyana’s extractive industries.
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