Special commission of EDM to hold meeting with representatives of Barmek

Oil&Gas Materials 13 June 2006 16:01 (UTC +04:00)

The special commission established under the Azeri Ministry of Economic Development for inspecting Barmek companys fulfillment its contractual obligations will hold its third meeting this week, Mikayil Jabbarov, the deputy economic development and also the head of the commission.

According to Jabbarov, the inspection is held in accordance with the contract and today the company has answered 60% of inquires. The verification is conducted in several directions: check-up of financial statement of the company, its fulfillment of contractual obligations, financial liability, legal liabilities, work over technical activities, amount of investments, implementation of technical conditions, appointment of technical loses.

Jabbarov considers that the statement of the company on termination of the contract in case governments failure to fulfill its obligations doesnt have legal base. This is a wrong method. It needs to talk with the Economic Development Ministry and the Azeri government, told Jabbarov.