Guyana

EITI Status Yet to be assessed against the Standard
Joined EITI in 2017
Website EITI Guyana
Last updated 9 June 2020

Overview

Guyana has a population of less than 800 000 habitants, with more than one third of the population is living below the poverty line. The country’s economy has grown steadily in the last decade, largely based on exports of natural resources, both agricultural (mainly forestry) and mineral. In 2016, gold production made up to almost 60% of total exports. 

The production of oil in Guyana kicked-off in December 2019 - less than five years after the first discovery of hydrocarbons. This Liza offshore block represents one of the largest oil discoveries of the past decade, with resources estimated at 2.25 to 2.75 billion oil-equivalent barrels.

In 2019 Guyana published their first EITI Report covering FY 2017, and disclosing figures related mineral productions as well as exploration activities in the hydrocarbon sector. For 2017, the total revenues received from the extractive sector amounted to GYD 20,800 million, accounting for 9.3% of the total domestic revenues. According to the Bureau of Statistics, in that year the GDP from the mining sector for amounted to GYD 132,421 million and accounted for 20.90% of total GDP.

EITI Implementation

Guyana became EITI Candidate country in October 2017. 

In 2015, the Minister of Natural Resources, Honourable Raphael Trotman declared the commencement of a process to appoint the members of a Multi-Stakeholder Group (MSG). In February 2017, the MSG was officially launched comprising twelve (12) members, four (4) representatives each from civil society organisations, extractive entities and government agencies. The MSG approves the work plan for the Secretariat, approves the annual EITI Report, and assures that EITI contributes to the public debate. The Government of Guyana has also set up the GYEITI, which is the national secretariat in charge of coordinating EITI implementation.

Currently the government of Guyana is working on improving the public access to information related to the extractive sector. They have committed to having all contracts, licenses and permits published along with their geo-located data. These disclosures have been tasked to the e-governance unit of the National Data Management Agency (NDMA). For this the NDMA will work with the statutory bodies such as the Guyana Lands and Surveys Commission, Guyana Geology and Mines Commission, Guyana Forestry Commission, and Department of Energy, to establish online digital portals for the corresponding disclosures. The NDMA will also be working with the Deeds Registry to digitize company registration data so that it is easily accessible to the public.

Governance

The EITI Champion for Guyana is the Minister of Natural Resources, Honourable Raphael Trotman, and the National Coordinator is Dr. Rudy R. Jadoopat. The multi-stakeholder group of GYEITI is comprised by:

Large Scale mining, Guyana Gold & Diamond

Companies

Small & Medium scale mining. Guy. Gold & Diamond Manufact. Assoc.

Companies

Guyana Forestry Products Manufacturers Association

Companies

Exxon Mobil

Companies

Policy Forum Guyana

CSO

Policy Forum Guyana

CSO

Policy Forum Guyana

CSO

Indigenous People Representative

CSO

Government constituency

  • Ministry of Natural Resources.
  • Ministry of Finance
  • Office of the Prime Minister
  • Guyana Revenue Authority

Industry constituency

  • Large Scale Mining, Guyana Shield’s Resources, Inc.
  • Small & Medium Scale Mining. Guyana Gold & Diamond Miners Association
  • Guyana Forestry Products Manufacturers Association
  • ExxonMobil Guyana, Ltd

Civil Society constituency

  • Policy Forum Guyana
  • Indigenous People Representative

Timeline:

Guyana EITI implementation

 

 

First EITI Report

Guyana published its first EITI report on 25 April 2019, covering the fiscal year of 2017.