AGN MAK submitted report on EITI for first half of 2005

FUEL & ENERGY COMPLEX - РѕС'РєСЂС‹С'РѕThe AGN MAK auditing company has held today presentation of the auditors report in the framework of the Extracting Industry Transparency Initiative (EITI) for the government EITI commission, the Coalition of non-governmental organizations (NGOs) and oil companies. The company has carried out revision of reports of 22 companies in the oil and gas industry, involved in EITI, and the government of Azerbaijan on receipts in the results of the first half-year of 2005, the NGO Coalition member on EITI, the head of the Centre for Public Finances Monitoring Ingilab Ahmedov told Trend. He told in detail on payments to the state and on revenues.

According to the arrangement of the sides, the reports data will be publicized this week.

AGN Mak Azerbaijan LTD is part of the group of companies Accountants Global Network. It has been selected at the sitting of the Governmental Commission on EITI, local and foreign oil companies and the Coalition on increase of transparency in the extracting industry on 29 September 2005. According to the rotation principle, the State Oil Company of Azerbaijan (SOCAR) will pay the services of the auditing company.

Earlier the audits for 2003 and 2004 were conducted by Deloitte.

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