Statement of Support
Engagement with the EITI
Oil Search has actively participated in Papua New Guinea’s Multi-Stakeholder Group (MSG) since 2014 when the EITI Board approved Papua New Guinea’s application to become an EITI candidate country. The company has actively encouraged revenue transparency in countries where it operates and it has been a supporter of Papua New Guinea’s journey towards implementing the EITI Standard.
For many years, Oil Search published its payments made to Papua New Guinea’s government in local newspapers and it has voluntarily disclosed its payments to governments in countries where it operates as part of its Transparency Report and in its Data Centre. The company also provides this data to local MSG’s for inclusion in country reports. Oil Search’s 2019 Transparency Report can be seen here.
Oil Search supports the introduction of a public register of beneficial ownership of resource companies and licence interests in Papua New Guinea, Alaska and Australia. In December 2016, the Papua New Guinea government published a roadmap highlighting the need to include beneficial ownership disclosure in its national priorities. Since then, Oil Search has supported this process as it makes a positive contribution to transparency and accountability in a manner that is consistent with the EITI Principles.
The company actively participates in consultations with the relevant tax authorities in countries where it operates. It is also a member of the Papua New Guinea Chamber of Mining and Petroleum sub-committee that engages with the Internal Revenue Commission, International Monetary Fund and Department of Treasury on tax reform matters.