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Terms of Reference for Consultant Services in Accordance with the EITI Standard

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Terms of Reference for Consultant Services in Accordance with the EITI Standard APPENDIX 1.2 - TERMS OF REFERENCE Terms of Reference for Consultant services in accordance with the EITI Standard 2013 OIL & GAS AUDIT TERMS OF REFERENCE (SCOPE OF WORK) Consultancy for the 2013 EITI Report - Nigeria Approved by the NSWG on 11th December 2013 1. BACKGROUND The Extractive Industries Transparency Initiative (EITI) is a global standard that promotes revenue transparency and accountability in the oil, gas and mining sectors. It has a robust yet flexible methodology for disclosing and reconciling company payments and government revenues in implementing countries. The EITI process may be extended and adapted to meet the information needs of stakeholders. EITI implementation has two core components: • Transparency: oil, gas and mining companies disclose their payments to the government, and the government discloses its receipts. The figures are reconciled by a Consultant, and published in annual EITI Reports alongside contextual information about the oil and gas sector. • Accountability: a multi-stakeholder group with representatives from government, companies and civil society is established to oversee the process and communicate the findings of the EITI Report. It is a requirement that the Consultant is perceived by the multi-stakeholder group to be credible, trustworthy and technically competent (Requirement 5.1). The Consultant’s report will be submitted to the NSGW for approval and made publically available. The requirements for implementing countries are set out in the EITI Standard1. Additional information is available via www.eiti.org By the EITI rules, implementing countries are required to publish their annual reports for the period not later than two preceding years. The Oil and Gas Industry Audit 2013 Report must be published by the end of the 2014 to ensure Nigeria meets the EITI Standard. To facilitate delivery of the report by November 2014, NEITI has taken the proactive step of obtaining the relevant data required for the conduct of the assignment. Therefore, Consultants are expected to reflect in their proposals, methodology and timelines for completing the Audit by November 2014. EITI Implementation in Nigeria Nigeria signed up to the EITI in 2003, implementation began on 16th February 2004 when NEITI was established as part of the overall economic reform programme agenda of the Obasanjo Administration at the time. For details of Nigeria’s sign up to the EITI, the functions, methods, processes and benefits of NEITI, please visit our Website www.neiti.org.ng NEITI implementation of EITI in Nigeria began with legislation - the NEITI Act of 2007. This law was the first pillar in the institutionalization of NEITI and EITI process in Nigeria. It also made Nigeria the first country to back the process with law. The NEITI Act 2007 is today a reference point in all advocacy, public agitation and demand for transparency in the extractive sector in Nigeria. 2. OBJECTIVES On behalf of the Nigeria Extractive Industries Transparency Initiative (NEITI) and NSWG, the NEITI seeks a competent and credible firm to provide Consultancy services in accordance with the EITI Standard. The objective of the assignment is to produce an Audit Report for 2013 in accordance with the NEITI Act. Other additional objectives of the assignment include: 1. Report on the quantities of hydrocarbons (oil and gas and refined product, including condensate where appropriate) produced, exported and utilized/imported in a manner, which is insightful, and of such integrity as to be reasonably relied upon by NEITI and to also make recommendations on any issues arising in the course of conducting the work. 2. To report on the revenue flows and investment flows amongst the Covered Entities, as more fully described below, with transactions made by participants (both public and private) in Nigeria’s oil and gas industry. 3. To undertake special verification work on certain classes of transactions 4. To report on balances payable / receivable at the end of the audit period for certain financial flows 5. To reconcile the physical/financial transactions reported by payers and recipients as appropriate, as per the scope set out herein. 3. Scope of Work The Consultant shall: 1. Develop, as necessary, template reporting structures for utilization by either public or private entities; and 2. Assess the volumetric aspects of production, liftings, utilization/exports, imports, unaccounted oil and gas, and other relevant streams. 3. The Consultant shall validate information collected on allocation of licenses including transfers and map showing license and other related information 4. Review all licensing processes and beneficial ownership and to report on the signature bonuses attributable. This includes Nigeria Sao Tome & Principe from the Joint Development Zone (if any). 5. Validate information on beneficial ownership from SOE – State Owned Enterprise (NNPC), Midstream, Downstream companies, JVs – Joint Venture companies and PSCs – Production Sharing Contract companies. For this purpose, the NSWG has agreed that the beneficial ownership shall be a minimum of 5-(five) per cent. The consultant should indicate whether the companies are registered in Nigeria or abroad; whether they are publicly quoted or not (in Nigeria or abroad). The consultant shall specifically obtain from NLNG their ownership structure including the names of Beneficial Owners. This should be confirmed to the CAC records. 6. Obtain description of government policy on Contracts disclosure. The information obtained should include MOUs, Side Letters, Contracts, Farm-in Agreements and other relevant documents including marketing contracts for crude oil, and swap agreements 7. Analyse, and reconcile the physical, financial and related information pertaining to the revenue flows, investment flows, and such other transactions which affect such flows amongst and between the Covered Entities; However, activities and entities involved in the petrochemical industry (e.g. refineries, chemicals production), or the processing of crude oil and gas are not within the scope of work but such entities are required to confirm their relevant stocks, receipts from and inputs to the oil and gas sector. 8. Report on NNPC’s share in export sales and domestic crude and circularize NNPC trading partners to independently confirm NNPC’s volume and values of export and domestic sales. 9. Validate data obtained on revenue flows from the oil and gas industries detailing all payment streams made by all Covered Entities to any Federation (Federal Government, State Government, or Local Government) entity, including to / by NNPC. In addition, this detailing is to encompass certain calculations that underlie the calculation of payments, fees, taxes and royalties owned by private or public sector companies. 10. Validate investment flows involving Government payments by way of Joint Venture investments, loans (including loan repayment), and equity investment transactions including dividends paid or received by Covered Entities, cost and profit oil transactions. Otherwise, the Consultant should report that the figures have not been confirmed. 11. Build upon the analysis, findings and recommendations of the previous audit 12. Confirm data obtained about all information on Social Expenditures as mandated by Law or in Contract. 13. Validate information obtained on all Quasi-Fiscal Expenditure from NNPC such as fuel subsidy, security, SURE –P etc. 14. Corroborate information collected on material arrangements involving provisions of goods and services (including loans and grants and infrastructure works) in exchange for oil or production concessions or physical delivery of such commodities. 15. Report royalties on a Project-by-Project basis. The NSWG defines a project as a license for each OPL / OML. 16. Provide recommendations leading to standardized reporting methodologies which enhance industry-wide reporting, sector analysis, and transparency 17. Provide both on and off the job training to the Secretariat Staff involved in the conduct of the assignment with a view to building capacity and enhancing efficiency of future audits. 18. The Consultant will report in writing to the Client every month on progress made in completing the work plan. 19. The Consultant’s final deliverable is to be titled – “Financial, Physical and Process Audit: An Independent Report Assessing and Reconciling Physical and Financial Flows within Nigeria’s Oil Industry and Gas Industry – 2013”. 20. The Consultant shall offer, to the extent applicable and/or necessary, recommendations for improvements it finds or believes may improve the efficiency of the sector, or the effectiveness of Government procedures for managing the sector, or any other such matter the Consultant may consider pertinent. It is noted that, for purposes of establishing the scope of work under these Terms of Reference, Consultant is not obligated to undertake such tasks or activities necessary to implement such recommendations, if and when proffered. Any such remedial actions pursuant to these recommendations, if any at all, shall be pursuant to separate written and mutual agreement between the Client and Consultant. 4. The EITI Reporting process The EITI reporting process has five phases (see figure 1). The Consultant’s responsibilities in each phase are elaborated below. Figure 1 – Overview of the EITI Reporting process and deliverables Based on previous NEITI Reports, the NSWG’s expectation is that the NEITI Report will cover payments of PPT, Royalty, Signature Bonus, Rentals,
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