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Transparency of Payments to Foreign Governments

Transparency and accountability are values that guide our business conduct and shape the foundation for sustainable development. Our goal is to promote openness in business dealings and voluntary revenue transparency through the Extractive Industries Transparency Initiative (EITI) process. We believe that implementing EITI strengthens governance, fosters stakeholder cooperation, aids development of civil society and helps us manage risks.

The EITI addresses challenges to establishing transparency through broad, voluntary cooperation among governments, companies, international organizations, NGOs and others. The challenges include:

  • The lack of systems and processes for host governments to track and report payments and revenues.
  • The need for capacity building efforts to help civil society get organized and secure funding for EITI involvement.
  • Participants must clearly understand and acknowledge their roles and responsibilities, and respect local contracts, commitments and laws.

Marathon offers assistance to countries where we operate in implementing the EITI process. Currently, Iraq, Norway and Indonesia are EITI candidate countries. We continue to work with Equatorial Guinea on capacity-building efforts for transparency.

Legislation passed in the U.S. in 2010 mandates disclosure to the U.S. Securities and Exchange Commission of resource extraction payments to foreign governments. Marathon is participating in the rulemaking to implement this law and will comply once it is implemented.