Exxon Mobil declaration about EITI

· I am pleased to be here and would like to thank the Ministry of Mines for the opportunity to share ExxonMobil's views on transparency.

•  ExxonMobil supports transparency. Why? Because it provides civil society with the information to help ensure improved government accountability in the use of its revenues to benefit that country's citizens. Transparency leads to good governance. Good governance can lead to the absence of corruption. Transparency is an important part of my company's commitment to honest and ethical behavior wherever we operate.

· ExxonMobil and its affiliates are strong supporters of transparency but a transparency initiative must contain certain elements to be successful and warrant our support.

· We believe that any transparency approach needs to meet three key tests. First an initiative should apply to all companies that wish to do business in a country - publicly traded, private and state-owned oil companies.

· Second, any transparency initiative needs to protect truly proprietary information.

· Third, any disclosure requirement should not violate the laws of a host government or a company's contractual obligations. Where countries limit disclosure of financial information, companies must comply and respect the sanctity of contracts. It is important to note that host governments set the rules for disclosure regarding their commercial activities. Each country rightfully should be able to shape its disclosure policy to best fit its unique perspectives.

· ExxonMobil has participated in several World Bank meetings and workshops, and played a lead role in helping to implement transparency in individual countries such as Chad , Azerbaijan , Kazakhstan , Nigeria and Equatorial Guinea . We also have played a major role at the international level with speeches by senior executives and we have a representative on the EITI Board.

· Implementation of transparency involves participation by not only government and companies but also by civil society as well. In some countries, participation by international NGOs and local NGOs within implementing countries is already pretty robust.

· Development of a transparency process that is both workable and useful for all stakeholders is hard work. But it is something very achievable if all stakeholders work together.

· I believe ExxonMobil and its affiliates are doing their part to help countries meet their objectives regarding transparency initiatives. As mentioned we are involved in five petroleum countries that have implemented or are in the process of implementing transparency. We would be pleased to add Madagascar to that list.

•  There is still more to be done to accomplish all of the principles laid out in the EITI. ExxonMobil and ExxonMobil Exploration & Production Madagascar Majunga Limited remain ready and willing to help if called upon.

· Thank you for the opportunity to provide our views on transparency

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