Deloitte&Touche confirms Azerbaijan's tenth report on EITI

Oil&Gas Materials 16 June 2009 10:56 (UTC +04:00)

Azerbaijan, Baku, June 13 / Trend I. Khalilova /

The Extractive Industries Transparency Initiative (EITI) published Azerbaijani tenth report on EITI prepared by international audit company Deloitte & Touche. The report spread by the State Oil Fund covered Azerbaijani incomings in extractive industry in 2008.

According to the report, the government got 150.228 million barrel oil and 2129.346 million cubic meters of gas from foreign companies per year.

Share of the government in local companies' gas production hits 9.712 million cubic meters of gas.

Roughly 2 149,709 million manat was received from foreign companies as tax on profit, $3.482 million on signed bonuses, $4.374 million on other payments (covering payments, transit payment), including $0,204 million.   

Cost of oil was indicated in the amount of $47.408 million but $131.169 million for gas. 

Incomings from local companies were in the amount of 146.579 million manat, including tax on entrails (royalty), 261.564 million manat - tax on profit, 437.198 million manat from other taxes (except for income-tax, tax from source and social payments).

Roughly $186.637 million and 2995.05 manat from oil and projects were delivered to the Azerbaijani government during 2008.

Incomings of the government were confirmed in the amount of $851.386 million and 8198.567 million manat over 2003-2008.

Roughly 26 oil and gas companies participate in the memorandum on mutual understanding.

Delloitte & Touche Company prepared the first, the second, the fourth and the fifth EITI reports but Moore Stephens the sixth, the seventh, the eight and the ninth reports.

On June 13, the official exchange rate is 0.8038 manat to $1.

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