(ENGAGEMENT OF CONSULTANT FOR THE CERTIFICATION OF GOVERNMENTS OIL AND GAS BENCHMARK REVENUE)
Following the announcement of the discovery of crude oil in commercial quantities in july2007, the government of Ghana initiated immediate steps to ensure the country s avoid the pitfall that other petroleum-rich nations had fortunately fallen into. Government has endeavored to put in place the necessary policy measures to ensure that petroleum revenue’ accruing to the State is properly managed and accounted for and used as a catalyst to stimulate sustainable development and maximize the welfare of its citizens.
The Petroleum Revenue Management Act,2011(Act815) was passed by Parliament and assented to by H. E. the President on 11th April,2011,to provide a legal framework for Petroleum Revenue Management in Ghana. Section 17, of the Petroleum Revenue Management Act (PRMA) requires the Minister responsible for Finance to estimate and certify the 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.
B) OBJECTIVE OF THIS ASSIGNMENT
The Government of Ghana (GOG) ,represented by the Ministry of Finance and Economics Planning(MOFEP),pursuant to Section 17 of the Petroleum Revenue Management Act,2011(Act 815),requires the service of a reputable independent expert to certify the Benchmark Revenue for the2013 financial year.
A) SCOPE OF ACTVITIES
The scope of activities of the consultant will include
i)Fully assess governments petroleum revenue estimated for the 2013 financial year as per the relevant sections of the PRMA;
ii) provide and independent assessment of petroleum revenue due the republic of Ghana for the 2013 financial year with detailed explanations of all assumptions on which calculations were made;
iii) Certify the2013 Benchmark Revenue as prescribed by Section 17 of the PRMA;
iv) A concise report on the certification of the 2013 Benchmark; and
v) A presentation o key findings and recommendations on the certification of the 2013 Benchmark Revenue to Management of the Ministry of Finance and Economic Planning.
i) COMPETENCY AND EXPERTISE
The selected consultant must have a minimum of a Master’s degree in a relevant discipline such as Economics, Finance, and Economics. The person must possess a minimum of five years post qualification experience in petroleum revenue and forecasting. A good knowledge of the oil and gas sector and a working experience on similar assignments will be added advantage. Demonstrated experience in producing high quality output on time, excellent writing and reporting are required.
ii) SUBMISSION OF EXPRESSION OF INTEREST (EOI)
Interested consultants must provide details of all relevant employment and assignment as well as necessary information and a statement of interest showing how their experience meets the competency and expertise requirements. They are also expected to provide a copy of detailed curricula vitae to the address below.
Selection will be in accordance with the procedures set out in the Public Procurement Act, 2003 (Act663) of the Republic of Ghana . Only short-listed respondents will be requested to submit proposals.
Expressions of Interest must be submitted in five(5)copies(one original and four photocopies)in a sealed envelope clearly marked “Government of Ghana ,Certification of 2013 Benchmark Revenue, Expression of Interest” and delivered to the address below no later than 7th August,2012.
The Chief Director
Attention: AG. Director, Real Sector Division
Ministry of Finance and Economic Planning
Post Office Box M40,Ministries,Accra
Fourth Floor ,Room 435