First step was to have their own state owned oil company that would take part in exploration and drilling, rather than allowing foreign companies to take contro

First step was to have their own state owned oil company that would take part in exploration and drilling, rather than allowing foreign companies to take control in hope of 'trickle down effects' Step two was to introduce a regulating body with strict policies (the policies were written by the subject of the article). The policies included extraction rates, technology standards, environmental standards etc. Third step was that the regulating body treated the government owned oil company just like any other when it came to tenders or exploration licenses - which minimizes corruption in government (or just shift corruption to this regulating body, really - but I guess they have some form of parliamentary oversight). Further step was that all profits from exploration and drilling went into a sovereign wealth fund which would divest the wealth of the nation into foreign markets - smoothing out economic cycles domestically and providing a future fund. All of these policies together contributed to a system that has less of a corrupting effect on both the local government and local economy. It is a best case example of how to maximize the overall benefit from resource wealth that would usually only benefit a selected few people or just a select sector.