Azerbaijan, Baku / Trend corr I. Khalilova / The commission on the Extractive Industry Transparency Initiative (EITI) publicized Azerbaijan's sixth EITI report which was developed by the international auditing company, Moore Stephens. The report publicized by the Azerbaijan State Oil Fund covered Azerbaijan's extractive industry revenues of 2006.
According to the report, in 2006 administration of foreign oil and gas companies received 19.036mln barrels of oil and 2.395bln cu m of gas. According to the companies it was 21.4mln barrels of oil and 2.208bln cu m of gas. However, the auditing company proved the accuracy of the information provided by the Government.
The share of the Government in gas production of local companies made up 7.934bln cu m.
Some AZN 972.958mln was received from foreign companies as profit tax, $2mln was received on signed bonuses, $8.639mln of payments per acre, $14.19mln as transit payments. The cost of oil was indicated as $20.156mln.
Local companies paid AZN 169.327mln in royalty taxes, AZN 29.371mln in profit taxes, AZN 246.111mln in other taxes (income tax, excerpt source tax, and social payments) and $12.491mln as the difference between internal and export price.
In 2006, the Azerbaijan Government received $57.476mln and AZN 1.417bln from oil and gas projects.
The memorandum of understanding (MOU) includes twenty-five oil companies. The latest to join the memo was Inpex Azerbaijan, Binagadi Oil, RAFI Oil, and Naftiran Intertrade Co. Limited.