EITI Multi-stakeholder Group held a meeting

cq-iclas-3

The next Multi-stakeholder Group (MSG) meeting on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on August 22, 2016 at the State Oil Fund of the Republic of Azerbaijan (SOFAZ).


During the meeting participants discussed the preparations of the Road Map for the disclosure of information on Beneficial Ownership in extractive sector, Inception report for 2015 EITI Report, EITI Validation process, E-Reporting in EITI countries and possibilities of implementing this system in Azerbaijan, disclosing the EITI processes and their results to the public and other issues. The meeting participants have also accepted MSG Code of Conduct.

Seminar on EITI implementation was held

A seminar on Extractive Industries Transparency Initiative (EITI) reporting was conducted in the State Oil Fund of the Republic of Azerbaijan (SOFAZ) on 22 July 2016. The main goal of the event was to improve the quality of the data and decrease the number of discrepancies in the newly started 2015 EITI reporting cycle. Government, companies, the civil society representatives and also NGO Coalition members participated in the seminar. In the course of the event, the representatives of the Azerbaijan EITI Secretariat made presentation on major changes in EITI Standard updated in Peru 2016, the representative of Moore Stephens audit company which will prepare 2015 EITI Report presented analysis of errors made in the last reporting cycle and issues to be considered for the next reporting cycle. The members of NGO Coalition talked about the overall role of civil society in the EITI and importance of mutual cooperation between NGOs and companies. The seminar was conducted based on interactive methods and Q&A sessions.

EITI Multi-stakeholder Group held a meeting

cq-iclas-3

The Multi-stakeholder Group (MSG) meeting on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on June 29, 2016 at the State Oil Fund of the Republic of Azerbaijan (SOFAZ).
During the meeting, the participants discussed the next Validation process and 2015 EITI Progress Report.
The meeting participants also discussed the results of the request for proposals on selection of the independent administrator (auditor) company for EITI reports covering the years 2015, 2016, 2017 (20, 21, 22nd EITI report). The Multi-Stakeholder Group decided that Moore Stephens will carry out the administration (gathering the information from mining companies and reconciling the figures) of reports for next 3 years.
During the MSG meeting Baker and McKenzie was selected to provide legal and counselling services on the preparation of a Road Map for the disclosure of information on Beneficial Ownership in extractive sector.

Notice

The State Oil Fund of the Republic of Azerbaijan holds a competition for the procurement of the service on preparation of the Extractive Industries Transparency Initiative (EITI) reports covering 2015, 2016, 2017, including reconciliation and analysis of the reports to be submitted by the EITI Committee and foreign and local extractive companies and collection of other information in accordance with the EITI Standard.

EITI Multi-stakeholder Group held a meeting

cq-iclas-3

The next meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on April 15, 2016 at the State Oil Fund of the Republic of Azerbaijan.

 
During the meeting participants got information about the latest updates on EITI and also held discussions on the Auditor’s Terms of Reference for the next EITI reporting and adaptation of the reporting to the newly adopted Standards, execution of the Action Plan for the upcoming validation and restoration of compliant status, recommendation document prepared by the Oil Workers’ Rights Protection Organization, web site built jointly by the Natural Resource Governance Institute (NRGI) and NGO Coalition (azeitireport.org), EITI Standards updated at the VII EITI Global Conference held in Lima on February 24-25, 2016, Activity Report for 2015, Ethic Codecs of MSG, presentation of the opinion of the Coalition of NGOs on Increasing Transparency in Extractive Industries on 2014 EITI Report and other issues.

EITI Commission held a meeting at SOFAZ

cq-iclas-3

 

The meeting of the Commission on the Extractive Industries Transparency Initiative (EITI) in Azerbaijan with the new members approved by the Ordinance #69s of the Cabinet of Ministers of the Republic of Azerbaijan, dated February 2, 2016, was held under the chairmanship of the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) Shahmar Movsumov on April 8, 2016. According the Ordinance members of the following state entities are included to the Commission: SOFAZ, State Oil Company, Ministry of Taxes, Ministry of Economy, Ministry of Energetics, Ministry of Finance, Ministry of Ecology and Natural Resources, Ministry of Foreign Affairs, Ministry of Labor and Social Protection, and State Statistics Committee.

During the meeting, Azerbaijan EITI Secretariat gave general information to the members and also made a presentation on current situation and new possibilities. Besides, participants discussed the election of the Commission members to the Multi-Stakeholder Group (MSG), coordination of the activities of members within MSG and other issues.

SOFAZ Executive Director takes part at the VII EITI Global Conference

IMG 2518

Delegation headed by the Chairman of the National Extractive Industries Transparency Initiative (EITI) Committee and the Executive Director of the State Oil Fund of the Republic of Azerbaijan Shahmar Movsumov participated at the VII EITI Global Conference held on February 24-25, 2016 in Lima, Peru.
During the Conference EITI Board held 32nd and 33rd meetings. Besides, Board members made amendments to EITI Standard and accepted two countries (Dominican Republic and Federal Republic of Germany) as Candidate countries. Thus, number of EITI implementing countries increased up to 51. 4 countries (Democratic Republic of Congo, Ghana, Mongolia and Philippines) were awarded with the 2016 EITI Award.
During the Conference new members of the EITI Board and the new Chairman of the EITI Board, Fredrik Reinfeldt were presented to the participants.
SOFAZ Executive Director Sh. Movsumov participated in the panel “Improving governance in an era of low commodity prices” and gave a speech about Azerbaijan experience in this field.
At the same time Azerbaijani delegation took part in National Expo held in the framework of the VII Global Conference in Lima. Video and photo materials about Azerbaijan, brochures, booklets and reports on EITI implementation in Azerbaijan and souvenirs were submitted to the conference participants.

EITI Multi-stakeholder Group held a meeting

cq-iclas-3

The next meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on January 26, 2016. The meeting participants discussed and then adopted the 2016 EITI Work Plan and the EITI Report for 2014.

During the meeting participants also discussed corrective actions and execution of Activity Plan for restoration of Azerbaijan's EITI Compliant Country status.

EITI Multi-stakeholder Group held a meeting

cq-iclas-3

The next meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on December 25, 2015.
During the meeting participants discussed execution of the 2015 EITI Work Plan, draft of the 2016 EITI Work Plan, draft of the Administrator’s opinion on the EITI Report for 2014, NGO Coalition’s research on SOCAR’s 2013 quasi-fiscal operations and draft of the MSG Ethical Codecs.

The meeting participants also discussed and made decisions on number of important issues, including execution of Activity Plan for restoration of Azerbaijan’s EITI Compliant Country status, defining the materiality of compulsory social insurance payments by companies to the State Social Protection Fund (SSPF) and its inclusion into contextual information of the EITI Report.

SGC Upstream joins EITI implementation process in Azerbaijan

mhsht

SGC Upstream became 39th extractive sector company that joined Memorandum of Understanding (MOU) on implementation of the Extractive Industries Transparency Initiative (EITI) in Azerbaijan by signing the Instrument of Accession to MOU on November 12, 2015. SGC Upstream will submit the 2014 EITI report on payments to the government of Azerbaijan (19th EITI report).


On June 10, 2014 38 local and foreign companies operating in extractive industries of Azerbaijan signed new Memorandum of Understanding in line with EITI Standard accepted at the 6th EITI Global Conference held in 2013.

 

Contact Us

adress24 Neftchilar ave., Dalga Plaza, Baku, AZ1000

phone(+99412) 498 77 53
ext. number 125

mailfarid.farzaliyev@oilfund.az