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REQUEST FOR EXPRESSION OF INTEREST (ENGAGEMENT OF CONSULTANT FOR THE CERTIFICATION OF GOVT’S 2015 PETROLEUM BENCHMARK REVENUE

oil moneyA) INTRODUCTION

Section 17 of the Petroleum Revenue Management Act, 2011(Act 815) requires the Minister for Finance to estimate and certify the Petroleum Benchmark Revenue not later than 1st September of each year. The first schedule of the Act mandates an independent expert to certify the estimated Benchmark Revenue. Pursuant to Section 17 of the Act, the Government of Ghana, represented by the Ministry of Finance, requires the services of a reputable independent expert to certify the Petroleum Benchmark Revenue for the 2015 financial year.

 

B) OBJECTIVE OF THIS ASSIGNMENT

The main objective of this engagement i5 to assess and certify Government’s petroleum revenue for the 2015 financial year as per Section 17 of the Petroleum Revenue Manager er1t Act, 2011(Act 815).

 

C) SPECIFICTASKS

To provide an independent assessment and certification of petroleum revenue due the Republic of Ghana for the 2015 fiscal year. The consultant shall;

  • Fully assess Government’s petroleum revenue estimates for 2015, as per the relevant        sections of Act 815;
  • Provide an independent assessment of petroleum revenue due the Republic of Ghana for 2015 with detailed explanations of all the assumptions under which calculations were made including:

.an independent forecast of oil prices for the applicable years;

.an independent forecast of daily and annual production levels for oil and gas for the     applicable years;

.detailed analysis of expected Government revenue, including royalties, carried and participating interest, corporate income tax, surface rentals and other petroleum receipts for 2015; and

  • certify the 2015 Benchmark Revenue as prescribed by Section 17 of the Act 815

 

D) COMPETENCY AND EXPERTISE

The selected Consultant must have a minimum of a Master’s Degree in a relevant discipline such as Economics, Energy, Oil and Gas or Finance. The person must possess a minimum of five (5) years’ post-qualification experience in petroleum revenue management and forecasting.

The Consultant must have a good knowledge of developments in the global oil and gas industry, as well as Ghana’s oil and gas sector. A good understanding of the implementation of Act 815 and a working expertise on similar assignment will be an added advantage. Demonstrated experience in producing high quality output on time, excellent writing and reporting are also essential. The Consultant should have strong forecasting, quantitative, qualitative and analytical skills.

 

E) SUBMISSION OF EXPRESSION OF INTEREST (EOI)

Interested individual consultants must provide information (detailed curriculum vitae showing the dates and organizational information and title for all relevant employment and assignments and a statement of interest showing how their experience meets the competency and expertise requirements).

Selection will be in accordance with the procedures set out in the Public Procurement Act, 2003 (Act 663) of the Republic of Ghana. Only short-listed applicants will be requested to submit technical proposals.

Expression of Interest must be submitted in five (5) copies (one original and four photocopies) in a sealed envelope clearly marked “Certification of Government’s 2015 Petroleum Benchmark Revenue: Expression of Interest” and delivered to the address below no later than 14th July 2014.

 The Chief Director

Ministry of Finance (MOF)

Attention: Director; Real Sector Division Post Office Box MB40, Ministries, Accra Third Floor, Room 302 (New Block)

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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