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New Guidelines for Emerging Oil and Gas Producers

On September 6, Chatham House released a set of guidelines developed by a group of researchers and public officials from 18 producing countries. These Guidelines provide policy-makers in new and emerging oil and gas producing countries with advice for setting up their petroleum sector that is adapted to their specific challenges. The Guidelines for Good Governance in Emerging Oil and Gas Producers addresses the specific challenges that face countries that are new to the petroleum business, offering seven core objectives to help steer strategic planning.

 

Objective 1: Attract the most qualified investor for the long run
Objective 2: Maximize economic returns to the state through licensing
Objective 3: Earn and retain public trust and manage public expectations
Objective 4: Increase local content and benefits to broader economy
Objective 5: Ensure national oil company participation in the development of the resources
Objective 6: Gradually build capacity and enable actors to perform their role
Objective 7: Increase accountability

 

The publication of the Guidelines represents the most recent step in the evolution of the Emerging Petroleum Producers Project. In this collaborative project, Chatham House works with partners Revenue Watch Institute, Natural Resource Charter, the Commonwealth Secretariat, and Petrad, and will continue to organize opportunities for experts from new and small producers to share experiences and learn from each other's perspectives.

To learn more about the Emerging Producers Project, go towww.chathamhouse.org/research/eedp/current-projects/governance-chal....

 

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