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Oil for Development

Oil for Development. Aberdeen 14/09/2010 John Tore Vatnar, NORAD. Oil for Development (OfD). Our vision :

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Oil for Development

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  1. Oil for Development Aberdeen 14/09/2010 John Tore Vatnar, NORAD

  2. Oil for Development (OfD) Ourvision: • Assist developing countries with petroleum resources in their efforts to manage these resources in a way that generates economic growth, promotes the welfare of the population and is environmentally sustainable Side/Page

  3. Core countries Side/Page

  4. OfD –howwework • Assistance is based on requests from governments • The requests will be assessed based on certain criteria, including; petroleum potential, commitment to good governance of the petroleum sector, relevance of Norwegian experiences and capacity within OfD • OfD shares Norwegian experiences and international best practice. Each country has to create its own policy based on own circumstances • Long-term perspective • Holistic approach Side/Page

  5. OfD –whoweare • The Steering Committee for the program consists of four government ministries (Ministry of Foreign Affairs, Petroleum and Energy, Environment, and Finance), and is chaired by the Ministry of Foreign Affairs • The program is coordinated by the Oil for Development secretariat in Norad • The main institutions involved in implementation of the program are the Norwegian Petroleum Directorate, the Norwegian Pollution Control Authority, the Directorate for Nature Management, the ministries represented in the Steering Committee, Petrad, consultancies and research institutions Side/Page

  6. OfD –whowecooperatewith • Norwegian and international NGOs • • The Extractive Industries Transparency Initiative (EITI) • • World Bank, IMF, African Dev. Bank, UNDP • • Norwegian and international oil and service companies where appropriate Side/Page

  7. 3 thematic areas: - Resource Management - Environmental Management - Revenue Management Side/Page

  8. ResourceManagement • Strengthening of local institutions (ministries & directorates) • Development/assessment of petroleum legal frameworks • Framework for exploration and production of petroleum • Resource databases • Strategies for transparent licensing and tendering processes • Policies to stimulate technology Side/Page

  9. EnvironmentalManagement • Build environmental management capacity within the sector • Basic legislation, rules and regulations covering environmental dimensions of the petroleum sector • Minimise discharges from activities • Environmental impact assessments • Manage gas flaring and other national/global climate challenges Side/Page

  10. RevenueManagement • • Design, management and control of tax regimes for the extraction of oil and gas (Government take) • • Transparency and accountability around payments by oil companies (EITI) • • Planning and execution of government budgets • Management of the financial savings (oil fund) Side/Page

  11. OfU spending NOK 200 mill (USD 35 mill.) Side/Page

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