Azerbaijan, Baku, March 16 / Trend /
Shirvan Operating Company Limited became 30th extractive sector company that joined Memorandum of Understanding on implementation of the Extractive Industries Transparency Initiative in Azerbaijan by signing the Instrument of Accession to MOU on March 15, 2010, State Oil Fund of Azerbaijan reported on March 16.
Shirvan Operating Company Limited will submit the 2009 annual report on payments to the government of Azerbaijan.
The National Committee on EITI, 21 foreign and local extractive industry companies and non-governmental organizations signed MOU on November 24, 2004. Inpex of Japan, Binagadi Oil, RAFI Oil, NICO, Apsheron Investment Ltd, GDF SUEZ Exploration Caspian B.V., Azerbaijan International Mining Company limited and Neftechala Operating Company Ltd joined MOU later by signing the Instrument of Accession.
Earlier, the meeting of the multilateral group within the EITI adopted a candidacy of the international accounting firm Moore Stephens for the preparation of 12 reports on the results of 2009. After the auditors' appeal to the companies operating in the oil and gas industry, they must submit reports on the transfers and the auditor in turn, will reconcile the reports of companies and the Azerbaijani government on income.