South Sudan’s government will commission an audit of national oil production and petroleum industry activities, the Ministry of Petroleum announced.
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.
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 EITI candidacy and membership.