Mozambique: An audit on local content is on its way – Notícias

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Mozambique: An audit on local content is on its way – Notícias

7:41 CAT | 19 Nov 2024

File photo: Notícias

The operations of companies active in hydrocarbons in Mozambique will in the near future be subject to an independent audit, to assess their contribution to the development of local companies, within the framework of local content.

These inspections also aim to assess the degree of compliance of companies with established policies and regulations, as well as the effectiveness of the measures adopted by the government to promote local content.

To achieve this goal, the National Petroleum Institute (INP) has just launched an international public tender with a view to selecting a specialised company to carry out the inspection.

According to the INP, the company to be contracted will assist the National Petroleum Institute in developing audit and analysis processes in order to verify the degree of compliance in contracting the supply of goods and services, labour, training, succession planning and knowledge transfer with the legislation and the Approved Development Plan.

The selection and contracting procedure of the specialized company will be carried out in accordance with the Regulation for the Contracting of Public Works Contracts, Supply of Goods and Provision of Services to the State, approved by Decree No. 79/2022 of December 30.

The oil and gas sector is one of the most important and strategic industries in many economies in the world, playing a preponderant role in economic development through the supply of essential energy resources and generation of substantial revenues for the governments and companies involved. In order to maximize the socio-economic benefits arising from the sector, many governments and regulators implement policies that require a significant participation of local content in the operations of companies in the sector.

The Mozambique state in the first nine months of this year collected US$134.6 million in revenue from oil and natural gas exploration.

Source: Notícias