Japanese company Inpex signed an act on joining to Memorandum on application of the Extractive industry Transparency Initiative (EITI) in Azerbaijan. The commission on EITI told Trend that Inpex Southwest Caspian Sea, Ltd received an invitation from the government on joining to a Memorandum on EITI as it is involved in hydrocarbon production in
Thus, the number of companies which signed Memorandum reached 22.
Memorandum on application of EITI in Azerbaijan was signed on 24 November 2004 by 21 foreign and local companies involved in oil production, including the SOCAR, BP Azerbaijan, ExxonMobil, Statoil, Total, Lukoil, Unocal, Shell, Devon Energy.
Upon signing the act on joining, Inpeks will present report to the government on the payments.