Azerbaijan makes public 13th EITI report

The meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan presided over by Executive Director of the State Oil Fund, Chairman of the MSG Shahmar Movsumov was held in Baku on October 25.

Azerbaijan Government Committee on EITI announced the release of the Government`s 13th EITI report (Jan-June 2010 assertion) audited by Moore Stephens, the independent Aggregator. The release is accompanied by the Aggregator`s opinion based on individual submissions of extractive industry companies participating in the EITI process in Azerbaijan.

The meeting also discussed EITI implementation in Azerbaijan.

The full report as well as the Aggregator`s opinion on the document has already been disclosed on web sites of the State Oil Fund (SOFAZ) (www.oilfund.az), the International EITI Secretariat (www.eiti.org) and the Non-Governmental Organizations (NGOs) Coalition for Increasing Transparency in the Extractive Industries of the Republic of Azerbaijan (www.eiti-az.org).

EITI is a special multilateral and voluntary initiative, supported by a coalition of companies, governments, investors and civil society organizations and global standard for improved transparency in the oil, gas and mining sector.

Azerbaijan joined EITI in 2003. Azerbaijan is the first ever country to complete validation process and designated as EITI Compliant Country. Azerbaijan was awarded the “2009 EITI Award” for its commitment to EITI principles and criteria and achievements in EITI Implementation.


/AzerTAc/