Azerbaijan, Baku / corr Trend I.Khalilova / Naftiran Intertrade Co. Limited company has signed an act on joining the memorandum in connection with the application of the Extractive Industry Transparency Initiative (EITI) in Azerbaijan. The State Oil Fund of Azerbaijan (SOFAR) announced that due to the signing of an act on joining, NICO, like other companies will present a report on payments to the Government within the framework of the 6th report period covering 2006.
Following NICO's joining the number of oil and gas companies signing a memorandum reached twenty-five.
A memorandum was signed on the 24th of November 2004 by twenty-one foreign companies, including the SOCAR, BP Azerbaijan, Exxon, Statoil , Total, Lukoil , Unocal, Shell, and Devon Enerji , which joined the EITI. Inpex Azerbaijan, Bin?q?di Oil and RAFI Oil were the last companies to join the memorandum.