SOFAZ Executive Director receives EU journalists

imzaShahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) received on October 5, 2007 a group of journalists representing European Union countries, who are in Baku to participate in the seminar on European neighbourhood policy organized by the European Journalism Centre.

Moore Stephens to collate next EITI reports

moore-stefensExtractive Industries Transparency Initiative (EITI) reports for the first six months of the year 2007 will be collated by Moore Stephens Azerbaijan Limited following the decision of the Selection Group, which was established in accordance with the Memorandum of Understanding signed between the governmental Committee on EITI, foreign and local extractive industry companies and the NGOs' Coalition for Increasing Transparency in Extractive Industries to implement EITI in Azerbaijan. Tender has been announced by State Oil Fund of the Republic of Azerbaijan, as it is to pay audit company's fees for collation of the next (seventh) cycle reports as per MOU.

The 7th EITI reporting cycle is underway in Azerbaijan

mhshtThe seventh reporting cycle on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was launched on August 30, 2007 at the meeting of the Selection Group, which was established in accordance with the Memorandum of Understanding signed between the governmental Committee on EITI, foreign and local extractive industry companies (oil and gas) and the NGOs' Coalition for Increasing Transparency in Extractive Industries to implement EITI in Azerbaijan. The Group decided to send invitations to bid to the Azerbaijan offices of the world-known international audit companies.

Azerbaijan discloses sixth EITI report

hesabat-2011This Press release is jointly prepared by Committee on EITI, extractive industry (oil and gas) companies and Non-Governmental Organizations (NGOs) Coalition for Increasing Transparency in the Extractive Industries of Azerbaijan.

NICO joins EITI implementation process in Azerbaijan

neftNaftiran Intertrade Co. Limited (NICO) became 25th extractive sector company that joined Memorandum of Understanding on implementation of the Extractive Industries Transparency Initiative in Azerbaijan by signing the Instrument of Accession to MOU on June 12, 2007. NICO will submit the annual report on payments to the government of Azerbaijan for the year 2006.

SOFAZ Executive Director meets EITI Secretariat Head

adnfShahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) and the Chairman of the National Committee on Extractive Industries Transparency Initiative (EITI) met with Jonas Moberg, the Head of the EITI Secretariat based in Oslo, Norway. The further activity of the newly established Secretariat, latest developments on EITI implementation in Azerbaijan, the UN Resolution drafted by the government of Azerbaijan for submission to the organization's General Assembly was discussed at the meeting.

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