Hatch Advisor To World BankPublished by MAC on 2002-10-23
Source: Hatch Website ()
Hatch advisor to World Bank
by Hatch Website
23rd October 2002
Hatch acts as an advisor to the World Bank with respect to its role with the US$4-billion Chad-Cameroon Pipeline Project. Hatch consultant Jacques Gérin of Montreal is Executive Secretary of the International Advisory Group (IAG) established by the Bank to supervise the project.
The oil-pipeline will deliver 225,000 barrels a day, from a 300-well oilfield in Chad, through Cameroon to a marine terminal 16 kms offshore Kribi, Cameroon. The project is operated by ExxonMobil on behalf of a consortium that includes Chevron and Petronas. The project is expected to produce one billion barrels of oil over its 25-30 year life.
World Bank, which provides funding to the two governments both directly and through IFC syndicated loans, has proposed a number of safeguards to ensure the project contributes to the specific interests of the populations of the areas affected by the project.
One safeguard was the appointment of the IAG, an independent review panel of six persons, chaired by a former Prime Minister of Senegal. The IAG has the mandate to observe, advise and report on all aspects of the project, including in particular the use of the project revenues by the two governments and the developmental impacts on the populations.
Monsieur Gérin is a former deputy minister of Environment in Canada. He is governor of the International Development Research Centre (IDRC), and chairman of the board of the International Institute for Sustainable Development (IISD).