Azerbaijan, Baku, September 26 /Trend, E.Ismayilov/
The report of the Extractive Industries Transparency Initiative (EITI) on 2013 will be prepared in accordance with the new EITI standards, the head of Azerbaijani State Oil Fund Shahmar Movsumov told journalists on Wednesday.
He said that in accordance with the new standards, the report within EITI will now not reflect the total volume of transactions within the extractive industry, but the contributions of each company which is a member of this initiative.
The new differentiated and more detailed form of reporting within EITI will make the information about the income from extractive projects and in particular in the oil and gas sphere more accessible, head of the EITI International Secretariat Jonas Moberg told journalists on Wednesday.
According to Moberg, Azerbaijan has come a long way within EITI and contributed to the development of the initiative.
The participating companies of the initiative which involves about 40 countries will have a mandatory basis to provide detailed information about the contributions within the extractive projects.