Azerbaijan, Baku, Feb.24 / Trend, I.Khalilova /
The Multi-Stakeholder Group (MSG) held a meeting in the State Oil Fund of the Azerbaijan Repulic on Feb. 23 on the implementation of the Extractive Industries Transparency Initiative (EITI) in Azerbaijan.
The EITI reports, covering 2010, will be collated by Moore Stephens following the unanimous decision of the MSG based on a tender in which Deloitte, PriceWaterHouseCoopers, Ernst & Young, and Euro Audit MMC participated.
Some 31 oil and gas companies and a gold mining company have signed the memorandum on understanding.
A memorandum was signed by 21 foreign and local mining companies to join the initiative in 2004. The list of companies to have now joined the initiative includes SOCAR, BP Azerbaijan, Exxon, Statoil, Total, Lukoi, Unocal, Shell, Devon Enerji. Inpex Azerbaijan, Binaqadi Oil, RAFI Oil, NICO, Apsheron Investment Ltd, GDF SUEZ Eksploration Caspian BV, Azerbaijan International Mining Company, Neftеchala Operating Company and Shirvan Operating Company.
In 2003-2009, government revenues were affirmed at $958.909 million and 9.488 billion manat. In the first half of 2010, $111.449 million and 670.987 million manat were transferred to the Azerbaijani government from oil and gas projects.
The official exchange rate is 0.7943 manat to $1 on Feb.23.