Sole Source Justification - Venezuela Natural Resource Revenue Transparency Contract
Overview
Buyer
Place of Performance
NAICS
PSC
Set Aside
Original Source
Timeline
Qualification Details
Fit reasons
- NAICS alignment with historical contract wins in similar service areas.
- Scope strongly matches core technical capabilities and delivery model.
Risks
- Past performance thresholds may require one additional teaming partner.
- Potential clarification needed on staffing minimums before bid/no-bid.
Next steps
Validate eligibility requirements, assign capture owner, and schedule partner outreach to confirm teaming strategy before submission planning.
Quick Summary
The Department of State has issued a Sole Source Justification for a contract awarded to KPMG LLP for the Venezuela Natural Resource Revenue Transparency Contract. This Time & Materials (T&M) contract, valued up to $84,384,634.38, aims to establish and operationalize a secure, compliant, and transparent financial monitoring mechanism for Venezuelan natural resource transactions and related fund disbursements from U.S.-controlled accounts. The purpose is to provide advisory and operational support to the DoS for informed oversight, fraud prevention, and to ensure funds benefit the Venezuelan people in line with U.S. foreign policy priorities.
Scope of Work
Key services include:
- Designing, implementing, and sustaining a financial oversight framework for Venezuelan natural resource revenues.
- Strengthening governance, compliance, and program-level risk management.
- Supporting the vetting of inflows, counterparties, budget requests, and downstream recipients.
- Enabling auditable tracing of disbursements and verification of fund usage.
- Providing financial, forensic, and market analysis to detect revenue leakage or misuse.
- Establishing repeatable processes, documentation standards, and reporting.
- Offering technical advisory and surge support.
Contract & Timeline
- Contract Type: Time & Materials (T&M)
- Period of Performance: One-year base period plus four one-year option periods.
- Estimated Total Value: Up to $84,384,634.38
- Pricing: Based on KPMG's negotiated GSA MAS rates with a 4% discount to the Department of State.
- Published Date: April 14, 2026
Evaluation
This is a sole source justification, not a solicitation for proposals. The award to KPMG LLP under GSA Multiple Award Schedule (MAS) GS-00F-275CA is justified under General Services Acquisition Regulation 538.7104-3 (b)(ii) due to the unique and highly specialized nature of the required services. Fair and reasonable pricing was determined based on KPMG's established GSA MAS price list and proposed labor hours.
Additional Notes
The contract is funded by proceeds from the sale of commodities or purchase of diluents related to Venezuela. Market research identified KPMG as the only firm capable of meeting specialized requirements, including acceptability to the Central Bank of Venezuela and immediate operational capability. The place of performance is McLean, VA.