South Sudan’s Ministry of Petroleum announced that the government will commission an audit of national oil production and petroleum industry activities, All Africa reported.
The Ministry invites companies to bid on a public tender to perform the audit and produce a 2017 audit report on the industry. Objectives of the audit include completing an accurate assessment of oil, condensate and gas reserves, and production; reporting on revenue and investment flows; and making recommendations on the technical, fiscal and regulatory issues faced by petroleum industry actors, informed Econo Times,
Tender opens immediately and closes on the 14th of July, with winners to be announced on the 17th of July 2017.
The move to enhance efficiency and promote transparency in the hydrocarbons sector is viewed by the Ministry of Petroleum as the foundation for South Sudan’s future prosperity. The successful completion of the petroleum audit will be an important step towards the candidacy and membership of the Extractive Industries Transparency Initiative (EITI).