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sharing in governance of extractive industries

EITI Board recognises Papua New Guinea’s achievements in improving natural resource governance

Papua New Guinea achieves meaningful progress in EITI implementation, but further institutional reforms are necessary.

At its meeting in Dakar on 30 October 2018, the EITI Board decided that Papua New Guinea (PNG) has made meaningful progress in implementing the EITI Standard. The Board recognised PNG’s efforts in implementing reforms to address weaknesses in government systems and in improving the level of transparency on state participation in the country’s extractive industries. 

“The EITI is having a real impact in Papua New Guinea: citizens can now see how the revenues from oil and gas projects are being distributed and how the government is managing mining revenues through trust accounts”, said Fredrik Reinfeldt, chair of the EITI.

“The process has improved the petroleum register and shone a light on the state’s participation in the sector. I welcome the news that stakeholders will increasingly use EITI to inform investment decisions and to assess the sector’s contribution to the economy.”

The Board also acknowledged PNG’s satisfactory progress on all requirements related to governance and oversight of the EITI process, attributing the progress in PNG’s implementation to strong government commitment and meaningful engagement by stakeholders.                       

While the quality of data needs to be improved and significant gaps remain in the disclosure of information around subnational payments and distribution of revenues, the Validation process showed how EITI contributes to public debate and policy reforms in PNG. The use of EITI data has sparked discussions on how revenues are collected from the PNG LNG project and how local communities may benefit from a Benefit Sharing Agreement entered in connection with this project. 

Notes

This article can also be read on eiti.org.

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