Azerbaijan, Baku, June 29 / Trend /
The eleventh reporting cycle on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was launched on June 29, 2009, State Oil Fund of Azerbaijan (SOFAZ) reported.
This decision was made at the meeting of the Selection Group, which was established in accordance with the Memorandum of Understanding signed between the governmental Committee on EITI, foreign and local extractive industry companies (oil and gas) and the NGOs' Coalition for Increasing Transparency in Extractive Industries to implement EITI in Azerbaijan. The Selection Group decided to send invitations to internationally recognized audit companies in Azerbaijan for the bidding procedure.
An audit company will be selected to collate the 2009 semi-annual reports submitted by the Azerbaijan government and oil and gas companies in accordance with the EITI implementation mechanism in Azerbaijan.