Papua New Guinea Extractive Industries Transparency Initiative (PNGEITI)

Papua-New-Guinea-Validation_Board-Decision

EITI Board recognises Papua New Guinea’s achievements in improving
natural resource governance

EITI Board recognises Papua New Guinea’s achievements in improving
natural resource governance
Papua New Guinea achieves meaningful progress in EITI implementation, but further institutional
reforms are necessary.

At its meeting in Dakar on 30 October 2018, the EITI Board decided that Papua New Guinea (PNG)
has made meaningful progress in implementing the EITI Standard. The Board recognised PNG’s
efforts in implementing reforms to address weaknesses in government systems and in improving the
level of transparency on state participation in the country’s extractive industries.
“The EITI is having a real impact in Papua New Guinea: citizens can now see how the
revenues from oil and gas projects are being distributed and how the government is
managing mining revenues through trust accounts”, said Fredrik Reinfeldt, chair of the
EITI.

“The process has improved the petroleum register and shone a light on the state’s
participation in the sector. I welcome the news that stakeholders will increasingly use
EITI to inform investment decisions and to assess the sector’s contribution to the
economy.”

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