Chad Minister: We can now verify and publish reliable information about oil revenues.
Wednesday, 15 October 2014 - Chad was today accepted as a full member of the EITI.
As ‘compliant’ with the global EITI transparency standard, citizens of Chad have access to extensive information about how their natural resources are governed. Industry, government and civil society in the country are working together to inform the debate about the management of its oil, gas and mineral resources.
The international EITI Board designated the country ‘EITI compliant’ at its meeting in Myanmar and congratulated the Government of Chad for its sustained commitment and leadership in the implementation of the EITI.
Clare Short, Chair of the EITI said:
“I congratulate Chad for having strengthened the government systems so that the people of Chad can better benefit from the country’s natural resources. Reaching compliance with the EITI Requirements means that Chad is on the path towards open and accountable governance of its natural resources, and we look forward to working together to continue to strengthen governance of this crucial sector of Chad’s economy.”
Le Bemadjiel Djerassem, Minister of Hydrocarbon and Energy and Chair of Chad-EITI High National Committee, is glad to receive recognition for Chad’s efforts. He said:
“Thanks to the EITI, some major reforms have been engaged when it comes to follow-up of revenue collection and payments from the extractive industries. Implementing the EITI has allowed us to realise that we do not have an adequate system for tracking these revenues. Now with the establishment of the unit for revenue tracking, this is accomplished. We can now verify the figures and publish reliable information about oil revenues. Achieving compliance with the EITI Requirements is a first step on the long path towards managing natural resources for the benefit of the citizens.”
Scott Miller, General Manager of Esso Chad, said:
“Esso welcomes this milestone decision by the EITI Board. This accomplishment would not have been possible without the process ownership and full support of the national government. Transparency is essential to support economic growth, increased opportunity, and a better standard of living for all citizens. We look forward to continuing our engagement in future reporting years, and to the challenges of sustainment in an evolving industry and regulatory landscape.”
Adama Coulibaly, World Bank Resident Representative in Chad, said:
"The World Bank congratulates Chad on achieving EITI compliance. This comes as a result of the government’s steadfast determination to manage public resources in compliance with international standards of transparency. The World Bank, through funding from the EITI Multi Donor Trust Fund has supported this work in partnership with government and it has paid off.”
The Board’s decision in full
“The EITI Board designates Chad as Compliant with the EITI Requirements as of 15 October 2014. In accordance with the EITI Standard:
Chad must be revalidated within three years i.e. Validation will commence on 15 October 2017 or earlier upon request of the High National Committee. Validation will be conducted in accordance with the EITI Standard.
Stakeholders in the process may call for a new Validation at any time within that period if they think the process needs reviewing. Where valid concerns exist that a country has become compliant with the EITI Requirements, but its implementation of the EITI has subsequently fallen below the required standard, the Board reserves the right to require the country to undergo a new Validation or face delisting from the EITI.
In accordance with the EITI Standard, Chad is expected to produce EITI Reports annually. EITI Reports should cover data no older than the second to last complete accounting period. Chad is required to produce the 2013 EITI Report by 31 December 2015 in accordance with the EITI Standard.
In accordance with Requirement 7.2, Chad is required to publish an annual report on the previous year’s activities, detailing progress in implementing the EITI. The annual report for 2014 should be published by 1 July 2015.
The Board congratulates the Government of Chad for its sustained commitment and leadership of the EITI process. The Board also congratulates the EITI Chad High National Committee for its efforts and innovative approaches to EITI implementation including widening the scope of the EITI to include transit fees and the oil refining in its EITI reporting.
The Board welcomed the renewal of the High National Committee and the development of a new workplan in accordance with the EITI Standard.”
The EITI is a coalition of governments, companies, civil society groups, investors and international organisations. Learn more at www.eiti.org
EITI is chaired by the Rt. Hon. Clare Short. Ms Short was the UK Secretary of State for International Development (1997-2003).
48 countries are now implementing the EITI standard, and recognised as either EITI compliant or EITI candidate. See the list of countries at www.eiti.org/countries.