BP undertakes scheduling payment for audit services under EITI

Business Materials 8 June 2006 12:49 (UTC +04:00)

In accordance with staff changes, authorities for management of governmental commission for Extraction Industry Transparency Initiative (EITI) will be delivered to Shahmar Movsumov, new chairman of State Oil Fund of Azerbaijan Republic. Movsumov told Trend such authorization is subject to decision of Ministers Cabinet.

Movsumov also said at the moment oil&gas companies are turning in their reports to international audit company Deloytte & Touche. Upon checking the companies data with the government income report, it will draw the fourth report for second half of fiscal year 2005 under EITI.

Audit services this time are paid by companies. Movsumov said BP had undertaken creation of companies payment scheme.