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SECOND REPORT ON EITI FOR 2004 WAS MADE PUBLIC

Oil&Gas Materials 4 August 2005 18:30 (UTC +04:00)

The second report of the Azerbaijan’s extracting industry revenues for 2004 developed by the Deloitte company at the order of the Azerbaijan’s governmental commission on implementation of the Extracting Industry Transparency Initiative (EITI) was made public on 4 August.

The report published contains the opinion of the auditing company, developed on the basis of analyses of the companies’ individual reports, engaged in the oil and gas sphere, Trend reports.

The Commissions’ chairman Samir Sharifov noted, “accomplishment of the audit proves once more, that Azerbaijan remains faithful to the commitment to manage oil revenues transparently”.

Bp Azerbaijan President David Woodward noted, “the company welcomes the Commissions’ report, which displays successful cooperation in performing transparency by the Coalition of foreign and local companies, NGO and the government of Azerbaijan. To my mind, it is one of the correct moves, made for ensuring the maximum benefit from revenues”.

On behalf of the Coalition of the non-governmental organizations, Sabit Bagirov noted, “the fact that the report was made public” is praiseworthy and proof of ongoing EITI implementation in Azerbaijan. The Coalition hopes, the Memoradum improvement draft will be also ready and made public shortly”.

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