Indonesia accepted as EITI Candidate country

Indonesia accepted as EITI Candidate country

DAR-ES-SALAAM, 19 OCTOBER 2010.  Indonesia has been admitted as a Candidate country within the Extractive Industries Transparency Initiative (EITI), the global standard for improved transparency in the oil, gas and mining sector. The EITI Board approved Indonesia’s candidacy application at a meeting today in Dar-es-Salaam, Tanzania.

In implementing the EITI, the government of Indonesia commits to disclose all taxes, royalties and fees it has received from the oil, gas and mining sectors. Companies operating in these sectors will publish what they have paid to the government. These figures will be reconciled by an independent reconciler, in a process overseen by representatives from government, industry and civil society organisations.

EITI Chair Peter Eigen welcomed Indonesia’s commitment to transparency: “The EITI provides for the government, industry and civil society organizations to pursue a common interest in promoting transparency, accountability and good governance. All Indonesians will benefit from the regular publication of these revenues. As Indonesia continues to develop its oil, gas and mining sectors, the EITI will provide reliable data to inform debate at the national and the local level. We also hope that Indonesia’s commitment will also encourage more countries in Asia to implement the EITI”.

In accordance with the EITI Rules, the EITI Board agreed that Indonesia has until 18 October 2012 to complete an ‘EITI Validation’ – an independent assessment of compliance with the EITI’s requirements. Countries that meet these requirements are designated as EITI Compliant. To date, five countries have achieved this standard: Azerbaijan, Ghana, Liberia, Mongolia and Timor-Leste. Indonesia joins 27 other EITI Candidate countries that are working toward this goal.

For further information about EITI implementation in Indonesia, contact Regional Director Sam Bartlett at the EITI International Secretariat, sbartlett@eiti.org.

Media enquiries, requests for interviews, can be addressed to Communications Manager Anders Tunold Kråkenes at the EITI International Secretariat.

see http://www.oxfordprospect.co.uk/INDONESIA-ENERGY-CRISIS.html

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