The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) Guyana Petroleum Resources Governance and Management Project (P166730) LATIN AMERICA AND CARIBBEAN | Guyana | Energy & Extractives Global Practice | IBRD/IDA | Investment Project Financing | FY 2019 | Seq No: 2 | ARCHIVED on 08-Jan-2020 | ISR39914 | Implementing Agencies: Co-operative Republic of Guyana, Department of Energy Key Dates Key Project Dates Bank Approval Date: 29-Mar-2019 Effectiveness Date: 11-Apr-2019 Planned Mid Term Review Date: 28-Mar-2022 Actual Mid-Term Review Date: Original Closing Date: 30-Mar-2024 Revised Closing Date: 30-Mar-2024 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective is to support the enhancement of legal and institutional frameworks and the strengthening of the capacity of key institutions to manage the oil and gas sector in Guyana. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Component- A. Enhancement of Legal Framework and Stakeholder Engagement:(Cost $3.20 M) Component – B Capacity Building of Key Institutions:(Cost $10.70 M) Component - C. Enhancement of Fiscal Management:(Cost $3.50 M) Component - D. Project Management & Project Preparation Facility:(Cost $2.60 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions This ISR presents the implementation status of the Guyana Petroleum Resources Governance and Management Project(GPRGMP) as of December 2019.The GPRGMP's overall implementation is satisfactory, with around 13% of the total credit disbursed. Recently, progress has been made towards improving the project's overall performance, particularly with respect to procurement, safeguards and monitoring and evaluation (M&E), in part thanks to the expansion of the Project Implementation Unit's staff. 1/8/2020 Page 1 of 7 The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance High High High Macroeconomic Substantial Substantial Substantial Sector Strategies and Policies Substantial Substantial Substantial Technical Design of Project or Program Moderate Moderate Moderate Institutional Capacity for Implementation and Sustainability High High High Fiduciary Substantial Substantial Substantial Environment and Social Moderate Moderate Moderate Stakeholders Substantial Substantial Substantial Other -- -- -- Overall Substantial Substantial Substantial Results PDO Indicators by Objectives / Outcomes Enhanced legal and institutional frameworks for the petroleum sector in Guyana IN00783098 ►Legal and regulatory acts for the O&G sector prepared under the project and submitted to the National Assembly (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 08-Jan-2019 25-Jun-2019 10-Dec-2019 27-Oct-2023 The project will provide support for the development of a legal, regulatory frameworks for the O&G sector that is comprehensive, consistent with international good practices and gender-sensitive (especially with respect to health and safety and local content). This indicator will track the number of legal and regulatory acts that were developed through the assistance provided under the Project and submitted to Guyana's National Assembly. The end target of five (5) includes: Petroleum Commission Act; Petroleum Taxation and Fiscal Regulations; Local Content Law and Regulations [for petroleum sector]; Occupational Safety Comments: and Health Regulations [for petroleum sector]; Environmental Regulations [for petroleum sector]. As of December 2019, the selection process for hiring an internationally recognized legal consultant firm to support the development of the legal and regulatory frameworks for the O&G sector is ongoing. The GPRGMP has in the meantime financed a legal workshop with international experts for key government representatives. 1/8/2020 Page 2 of 7 The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) Enhanced capacity of key institutions to manage the oil and gas sector in Guyana IN00783099 ►EITI reports published and made publicly available, in accordance with internationally recognized transparency standards (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 4.00 Date 10-Jan-2019 25-Jun-2019 10-Dec-2019 27-Oct-2023 This indicator will measure the number of Extractive Industries Transparency International (EITI) reports published in accordance with the internationally recognized EITI standards. Comments: As of December 2019, the selection process for an Independent Administrator that will help with the preparation of the EITI reports is ongoing. IN00783100 ►Results of SESA publicly disclosed by the Government (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 10-Jan-2019 25-Jun-2019 10-Dec-2019 18-Dec-2020 This indicator ensures that the SESA and its action plan will be completed and actively disseminated online and in the media. The draft report of the SESA is expected to be completed in 2020. Disclosure and Comments: dissemination of the final SESA report including the action plan is expected by January 2021. As of December 2019, the selection process for the consultant that will prepare the SESA is ongoing. IN00783131 ►Annual report of the Natural Resource Fund laid before the National Assembly by the MOF (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 4.00 Date 10-Jan-2019 25-Jun-2019 10-Dec-2019 27-Oct-2023 This indicator will measure the number of annual reports of the Natural Resource Fund laid by the MOF before the National Assembly in compliance with Article 41.(1) of the Natural Resource Fund Act. The end Comments: target is 4 reports. As of December 2019 and per the NRF Act the first annual report is not yet due. Intermediate Results Indicators by Components A. Enhancement of Legal Framework and Stakeholder Engagement IN00783132 ►Draft legal acts and regulations for the O&G sector finalized (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 08-Jan-2019 25-Jun-2019 10-Dec-2019 23-Jun-2023 This indicator will track the number of legal and regulatory draft acts that were developed through the Comments: assistance provided under the Project. The end target of five (5) includes: draft Petroleum Commission 1/8/2020 Page 3 of 7 The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) Act; draft Petroleum Taxation and Fiscal Regulations; draft Local Content Law and Regulations [for petroleum sector]; draft Occupational Safety and Health Regulations [for petroleum sector]; draft Environmental Regulations [for petroleum sector]. As of December 2019, the selection process for hiring an internationally recognized legal consultant firm to support the development of the legal and regulatory frameworks for the O&G sector is ongoing. The GPRGMP has in the meantime financed a legal workshop with international experts for key government representatives. IN00783135 ►Communications strategy on O&G sector issues implemented (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 4.00 Date 08-Jan-2019 25-Jun-2019 10-Dec-2019 27-Oct-2023 This indicator monitors the implementation of the communication strategy for the oil and gas sector through annual reports. Comments: As of December 2019, a communications strategy hasn't been finalized but the PIU/DE has hired a communications consultant and has conducted several communications activities. IN00783138 ►Stakeholder consultations conducted on new legislation for O&G sector (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 8.00 Date 08-Jan-2019 25-Jun-2019 10-Dec-2019 23-Jun-2023 This indicator monitors the organization of consultations with relevant stakeholders on key pieces of legislation for the oil and gas sector, drafted with the support of the project. Comments: As of December 2019, no stakeholder consultations have been held as the new key pieces of legislation have not yet been finalized. B. Capacity Building of Key Institutions IN00783133 ►Staff trained on petroleum data management (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 08-Jan-2019 25-Jun-2019 10-Dec-2019 22-Dec-2023 This indicator is aimed to monitoring the number of staff of beneficiary government institutions who have deepened their technical skills and knowledge on petroleum management as a result of the project. Comments: As of December 2019, the selection process for a petroleum data expert was set to begin in Q1 2020 with the goal of conducting a detailed petroleum data needs assessment. IN00783136 ►Instrumental advisors recruited to support critical technical needs at key institutions with responsibility for O&G sector (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 10.00 5.00 Date 08-Jan-2019 25-Jun-2019 10-Dec-2019 25-Jun-2021 1/8/2020 Page 4 of 7 The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) This indicator measures the number of external experts hired to support key institutions with responsibility for O&G to address critical and immediate technical needs and provide on-the-job training to instrumental Comments: staff on key issues such as geology, economics and fiscal modeling, accounting, audit and reservoir engineering. IN00783139 ►Number of females in management and leadership positions at key institutions with responsibility for O&G increased (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 4.00 4.00 4.00 8.00 Date 08-Jan-2019 25-Jun-2019 10-Dec-2019 27-Oct-2023 This indicator tracks to what extent the gender gap in management and leadership positions, which was identified, has been narrowed as a result of the training/intervention provided during project Comments: implementation. IN00783140 ►Environmental Protection Agency's capacity to regulate and monitor the O&G sector enhanced (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 7.00 Date 21-Jan-2019 25-Jun-2019 10-Dec-2019 22-Dec-2023 This indicator will measure the acquisition by the EPA of core competencies to regulate and monitor the petroleum sector in Guyana, through access to international expertise and training of its personnel under the project. The end target is to have 7 staff at EPA trained to oversee the petroleum sector. Comments: As of December 2019, the Guyana's EPA was in the process of identifying staff to receive relevant training under the project. 2 staff members are expected to receive training by October 2020. C - Enhancement of Fiscal Management IN00783134 ►Enterprise Architecture designed (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 08-Jan-2019 25-Jun-2019 25-Jun-2019 24-Dec-2021 This indicator will track the design of the Enterprise Architecture for the MOF to allow for more effective control over public finances. Comments: As of December 2019, the selection process for hiring a consultant to help design the Enterprise Architecture for the MOF was ongoing. IN00783137 ►MOF capacity to support Natural Resource Fund implementation enhanced (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 4.00 Date 21-Jan-2019 25-Jun-2019 25-Jun-2019 22-Dec-2023 This indicator will measure the acquisition by the MOF of core competencies to support the Comments: operationalization of the Natural Resource Fund, through access to international expertise and training of 1/8/2020 Page 5 of 7 The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) its personnel under the project. The end target is to have 4 staff at MOF trained to support the operationalization of the Natural Resource Fund. As of December 2019, the MOF and the GPRGMP PIU are working towards identifying and hiring an international expert to provide expertise and training of its personnel to support the operationalization of the NRF. First staff trained is expected by December 2020. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P166730 IDA-63820 Effective USD 20.00 20.00 0.00 2.54 17.21 13% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P166730 IDA-63820 Effective 29-Mar-2019 11-Apr-2019 11-Apr-2019 30-Mar-2024 30-Mar-2024 Cumulative Disbursements 1/8/2020 Page 6 of 7 The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 1/8/2020 Page 7 of 7