Azerbaijan, Baku, Feb. 16 / Trend , E.Ismayilov/
Azerbaijan has been selected the first full member of the Extractive Industries Transparency Initiative (EITI), the State Oil Fund of the Azerbaijan Republic (SOCAF) said in a message on Feb. 16. The decision was made at the Fourth EITI International Conference in Doha, Qatar on Feb. 16-18.
SOFAZ President Shahmar Movsumov is representing Azerbaijan at the conference.
Of 25 candidate countries, Azerbaijan was the first to become a full EITI member.
"The status once again confirms that Azerbaijan's oil-and-gas revenues are completely transparent and transparently managed and reported," Movsumov said.
Deloitte will develop the 10th EITI report on 2008 outcomes in the near future.
Deloitte held audits in 2003, 2004, 2005 and the first half of 2006. AGN Mak Azerbaijan developed a report on the first half of 2005. Moore Stephens designed reports for 2006 and 2007 and the first half of 2008.
In line with queue principles, companies involved in extractive industries will pay for the audit.
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