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: 7 | ARCHIVED on 26-Oct-2022 | ISR53284 | Implementing Agencies: Co-operative Republic of Guyana, Ministry of Natural Resources Key Dates Key Project Dates Bank Approval Date: 29-Mar-2019 Effectiveness Date: 11-Apr-2019 Planned Mid Term Review Date: 30-Dec-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 Moderately Unsatisfactory Moderately Unsatisfactory Overall Implementation Progress (IP) Moderately Unsatisfactory Moderately Unsatisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions Following a Country Portfolio Performance Review in July 2022, a revised work plan for 2022-2024 was prepared for the project. A revised procurement plan has been approved by the Bank and is under implementation. A disbursement request for $US 2.7 million was approved in September to finance activities for the period September 2022 to March 2023. This recent progress is encouraging. Given the tight remaining timeline for completion of project activities before its programmed closing in March 2024, the Bank will reassess its performance -and the corresponding ratings- at the next reporting period. 10/26/2022 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 High High High Sustainability 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 IN01197717 ►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-Mar-2022 25-Mar-2022 29-Dec-2023 The project will provide support for the development of a legal, regulatory framework 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 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 Comments: Regulations; Local Content Law and Regulations [for petroleum sector]; Occupational Safety and Health Regulations [for petroleum sector]; Environmental Regulations [for petroleum sector]. As of September 2021, 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 in the evaluation of EOIs stage and contract award is expected by November 2021. Enhanced capacity of key institutions to manage the oil and gas sector in Guyana 10/26/2022 Page 2 of 7 The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) IN01197718 ►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 2.00 3.00 Date 10-Jan-2019 25-Mar-2022 30-Sep-2022 29-Dec-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 September 2021, the selection process for an Independent Administrator to support the preparation of the EITI report for the 2019 RFP stage and contract award is expected by October 2021. IN01197719 ►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-Mar-2022 30-Sep-2022 29-Dec-2023 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 by end of Q4 2021. Disclosure and dissemination of the final SESA report including the action plan are expected by January 2022. Comments: As of September 2021, the selection process for hiring an internationally recognized legal consultant firm to support the development of the SESA for the O&G sector is in the shortlisting phase. Contract award is expected by November 2021. IN01197720 ►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 1.00 Date 10-Jan-2019 25-Mar-2022 25-Mar-2022 29-Dec-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 target is 4 reports. Comments: As of September 2021, the Natural Resource Fund Act remains under review by the Administration and guidance from the GoG/MoF on the extent of support to be provided through GPRGMP is pending. Intermediate Results Indicators by Components A. Enhancement of Legal Framework and Stakeholder Engagement IN01197726 ►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 10/26/2022 Page 3 of 7 The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) Date 08-Jan-2019 30-Sep-2021 30-Sep-2021 29-Dec-2023 This indicator will track the number of legal and regulatory draft acts that were developed through the assistance provided under the Project. The end target of five (5) includes: draft Petroleum Commission 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 Comments: Environmental Regulations [for petroleum sector]. As of September 2022, procurement of a legal consultant firm to support the prioritized development of the legal and regulatory framework for the O&G sector is in the expression of interest phase. Contract award is expected by December 2022. IN01197729 ►Communications strategy on O&G sector issues implemented (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1.00 Date 08-Jan-2019 30-Sep-2021 30-Sep-2021 29-Dec-2023 This indicator monitors the implementation of the communication strategy for the oil and gas sector through annual reports. Comments: As of September 2022, consultations with the client are ongoing on the need to prioritize the procurement of specialized support to begin the development and implementation of the communications strategy. IN01197732 ►Stakeholder consultations conducted on new legislation/regulations for O&G sector (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 08-Jan-2019 30-Sep-2021 30-Sep-2021 29-Dec-2023 This indicator monitors the organization of consultations with relevant stakeholders on key pieces of legislation/regulations for the oil and gas sector, drafted with the support of the project. Comments: As of September 2022, no stakeholder consultations have been held as the new key pieces of legislation have not yet been finalized. B. Capacity Building of Key Institutions IN01197727 ►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 30-Sep-2021 30-Sep-2021 29-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. As of September 2022, procurement for a technical, financial, and commercial support firm to enhance Comments: capacity at beneficiary institutions, including a detailed petroleum data needs assessment and management system, is in the RFP phase. Contract award is expected by January 2023. IN01197730 10/26/2022 Page 4 of 7 The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) ►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 24.00 24.00 30.00 Date 08-Jan-2019 30-Sep-2021 30-Sep-2021 29-Dec-2023 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. IN01197733 ►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 7.00 7.00 8.00 Date 08-Jan-2019 30-Sep-2021 30-Sep-2022 29-Dec-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. IN01197734 ►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 30-Sep-2021 30-Sep-2021 29-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. As of September 2021, 9 courses on Environmental Management of Oil and Gas and Hydrocarbon Comments: Production Monitoring and Surveillance for Regulatory Agencies done by EPA. Assessment of EPA’s capacity to oversee the petroleum sector -and training to fill any remaining capacity gaps- to be conducted under the SESA consultancy. C - Enhancement of Fiscal Management IN01197728 ►Enterprise Architecture designed (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 08-Jan-2019 30-Sep-2021 30-Sep-2021 29-Dec-2023 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 September 2022, guidance from the GoG/MoF on the extent of support to be provided through GPRGMP is pending. 10/26/2022 Page 5 of 7 The World Bank Implementation Status & Results Report Guyana Petroleum Resources Governance and Management Project (P166730) IN01197731 ►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 30-Sep-2021 30-Sep-2021 29-Dec-2023 This indicator will measure the acquisition by the MOF of core competencies to support the operationalization of the N through access to international expertise and training of its personnel under the project. The end target is to have 4 s support the operationalization of the Natural Resource Fund. Comments: As of September 2022, guidance from the GoG/MoF on the extent of support to be provided through GPRGMP is pe Performance-Based Conditions 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 7.44 11.06 40% 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 10/26/2022 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. 10/26/2022 Page 7 of 7