United Hydrocarbon International Corp
About United Hydrocarbon
United Hydrocarbon International is a Canadian-based private international-focussed oil and gas exploration and development company.
Engagement with the EITI
United Hydrocarbon International Corp. and it’s wholly-owned subsidiary, United Hydrocarbon Chad have recently provided the relevant data to the EITI process in Chad which reflects the company’s signature bonus payments etc. to the Government of Chad for the company’s Production Sharing Contract signed in 2012. We note that the Government of Chad (Ministry of Petroleum and Energy) has asked for this to be provided and has held training sessions through Fair Links, which United Hydrocarbon staff have attended.
United Hydrocarbon looks forward to the opportunity to continue to provide data and fully comply with requests for disclosure in support of the Government of Chad’s goal of becoming and EITI compliant country.
At this time United Hydrocarbon is not part of the multi-stakeholder group in Chad. However, we look forward to supporting the efforts of the EITI in Chad and look forward to working with and supporting the Government of Chad in this important initiative.
United Hydrocarbon plans to support the national EITI process in Chad by fully complying with required reporting and will also work to support greater transparency of financial payments to the Government of Chad. The company will seek to participate in the Chad EITI multi-stakeholder group in the future.
Financial contribution to international management of the EITI*
As a small private company, United Hydrocarbon will contribute the recommended amount of US$10,000 annually to the EITI.
* The amounts said to be contributed to EITI are figures from the companies. For the audited EITI revenue figures, please consult the EITI financial accounts for that year.
From United Hydrocarbon's statement of support
Effective March 14, 2014, United Hydrocarbon is pleased to announce that the company has become a supporting company of the Extractive Industries Transparency Initiative (EITI). United Hydrocarbon endorses the principles and criteria of the EITI as a way to improve transparency and combat any potential for corruption. We also recognize that by adhering to the highest business standards of honest behaviour, this should serve to promote ethical, honest and best practices and create an environment of openness and responsibility in the oil and gas sector in Chad. This in turn should help to create a more stable business and investment climate to the benefit of government, business and society as a whole in the country.