Azerbaijan, Baku / Trend / The development of the seventh report on the Extractive Industry Transparency Initiative (EITI) began on 30 August. The report covers the first half of 2007, according to the report of the Azerbaijan State Oil Fund. It was decided to invite the world's auditing companies for participation in the tender.
An auditing company will compare reports submitted by the Azerbaijani government and oil and gas companies.
The sixth EITI report for 2006 developed by the international auditing company of Moore Stephens states that in 2006 the Azerbaijani Government received 19.036mln barrels of oil and 2.395mln cu m of gas from the administration of foreign companies engaged in the oil and gas sector.
Some AZN 972.958mln was received from foreign companies as profit tax, $2mln was received on signed bonuses, $8.639mln as payments per acre, and $14.19mln as transit payments. The total cost of oil was indicated at $20.156mln.
In 2006, the Azerbaijani Government received $57.476mln and AZN 1.417bln respectively from oil and gas projects.