THE EITI A MODEL FOR SUSTAINABLE RELATIONSHIPS IN EXTRACTIVE REGIONS

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1 THE EITI A MODEL FOR SUSTAINABLE RELATIONSHIPS IN EXTRACTIVE REGIONS Mark Regis, Head, TTEITI Secretariat Achieving Sustainability in Regions with Extractive Industries Conference, San Fernando, June 14, 2013

2 STRIKING THE BALANCE REGULATORY PERMISSION SOCIAL LICENSE

3 EFFECTIVE COMMUNITY RELATIONS INVOLVES Maintaining relationships Delivering opportunities BENEFITS Social License to operate ENGAGEMENT MUST BE: inclusive; transparent and accountable

4 THE NEED FOR TRANSPARENCY TRANSPARENCY & ACCOUNTABILITY BETTER REVENUE MANAGEMENT MEANINGFUL PARTICIPATION ECONOMIC DEVELOPMENT

5 WHAT IS THE EITI? A global coalition of governments, companies and civil society Objective of fostering transparency and accountability Companies payments matched against governments declared receipts in an EITI Report 39 Implementing countries

6 THE TTEITI STEERING COMMITTEE National Multi-stakeholder Group (MSG) Cabinet-appointed Committee created - December 2010 Steering Committee Composition - Government (6) - Industry (4) - Civil Society (8) Chair Victor Hart Candidate country status achieved - March 2011 Each group has a place, each group has a say

7 EITI KEY MILESTONES Mar : T&T awarded EITI Candidate Country status Sep : Establishment of a Youth Advisory Committee Feb : Administrator hired to conduct the 1 st EITI Report Jun : Stakeholders sign the TTEITI MOU KEY DELIVERABLES Delivery of first T&T EITI Report Attain Complaint Country Status - external validation

8 THE EITI PROCESS Companies Disclose Payments Government Discloses Receipts Government Spending Award of licenses & contracts Regulation & monitoring of operations Independent Verification of Tax & Royalty Payments Revenue Distribution & Management Implementa tion of Sustainable Developme nt Policies Oversight by a Multi-Stakeholder Group Links to other Public Financial Management Reforms & Accountability Mechanisms The EITI provides a Forum for dialogue and a Platform for broader reforms

9 EITI INFORMS

10 EITI ENGAGES

11 T&T s Major extractive regions N Block 21 Block 22 Centrica Block 23(a) bptt* TTDAA 14 bptt* TTDAA 15 TTDAA 16 Oil Field NCMA 1 BG/PETROTRIN/ ENI/CENTRICA NCMA 2 NCMA 4 Centrica Block 23(b) In negotiation with BHP Billiton TTDAA 11 TTDAA 12 Oil & Gas Field Gas Field TTDAA 13 Shallow/Average Water Depth Blocks NCMA 3 NIKO NCMA 5 Block 2(c) BHP/TOTAL/CHAOYANG Block 24 TTDAA 8 TTDAA 9 Deep water Blocks TTDAA 10 Block 3(a) BHP/CHAOYANG/ KERR MCGEE/ PETROTRIN/ TOTAL Block 3(b) KERR MCGEE/ PRIMERA Block 25(a) TTDAA 4 TTDAA 6 TTDAA 7 TRINMAR Block 1a CENTRICA PETROTRIN North Marine Guapo Bay TDN TDN Block 1b CENTRICA Brighton Marine TDN East Brighton SOOGL/PRIMERA/ PETROTRIN Herrera Deep Block South West Peninsula Block TRINIDAD Eastern Block PETROTRIN (35%) Guayaguayare Block_Offshore VOYAGER/PETROTRIN Block 2 (ab) NIKO/CENTRICA/ VOYAGER/ PETROTRIN MORA TSP Block REPSOL/PETROTRIN/NGC SECC Lower Reverse L Block 2(c) REA BHP/ CHAOYANG Pelican EOG/ TRINTOMAR EOG/ PETROTRIN/NGC U(a) EOG BP Modified Block U(b) SEG (Cassia) BP Block 4(a) EOG E Block 6(b) BG/CVX East Mayaro BP Block 4(b) Block 5(c) 5(a) BG/SRC Block 6(d) BG/CVX Block 5(d) 5(b) Block 25(b) Block 26 Block 27 TTDAA 2 TTDAA 5 TTDAA Scale (km) TTDAA 3 11

12 SUMMARY The EITI provides: An excellent platform for uniting stakeholders Engages and gives Civil Society a voice Facilitates transparent management of revenues earned from extractive communities Provides a framework for sustainable relationships between, Companies, Civil Society and Government

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