Luanda - The Secretary of State for Oil and Gas, José Barroso, on Monday reiterated the Angolan government's commitment to bringing the sector's procedures into line with the rules of the Extractive Industry Transparency Initiative (EITI).
Speaking during a press conference aimed at announcing the start of work, in Luanda, of the validation team of the EITI International Secretariat to the country, the minister stressed that the organization has principles that are identified with what is intended for Angolan government action, with a view to implementing increasingly transparent processes.
He said that the country's accession to this organization will ensure greater smoothness in the processes of awarding licenses and signing contracts, as well as with regard to the revenues generated in the activity.
As part of the implementation of the accession process, a validation team from the International Secretariat of the Extractive Industry Transparency Initiative (EITI) is working in the country, from today (25) until the 28th of this month, for face-to-face evaluation of the 2nd Report of Angola as Implementer of this organization's standard.
Angola joined the EITI in 2022 and the National Coordination Committee has already submitted two reports to this international institution. The first in 2023, with general financial data from the extractive sector, and the second in September this year, in which information on financial aspects reconciled between the Ministry of Finance and the companies Sociedade Mineira de Catoca and Total Energies, in the diamond and oil sectors, respectively, was reported.
In turn, the regional director for Francophone Africa, Middle East and North Africa of the EITI, Nassim Bennani Kabchi, also present at the press conference, said that the evaluation mission currently working in Luanda will meet with several stakeholders, in order to engage them in this initiative.
The also head of the validation process for Angola added that the team will make 'strategic recommendations and corrective actions' so that the country's performance can conform to the organization's standards and improve transparency in the extractive sector.
ITlE is a global initiative that promotes transparency and accountability in the management of natural resources.
The organization is governed by the principle that the resources generated by the extractive industry are used appropriately and monitorable to contribute to the economic and political stability of countries.
It is aimed at promoting the open and transparent management of revenues from the extractive sector. ACC/VC/DOJ
