oil fund

STATE OIL FUND OF THE REPUBLIC OF AZERBAIJAN

EITI Committee Chairman meets representatives of international audit firms

05 May 2004 11:00:00

EITI Committee Chairman meets representatives of international audit firms

05 May 2004 11:00:00

Samir Sharifov, Chairman of the National Committee on Extractive Industries Transparency Initiative (EITI) and Executive Director of the State Oil Fund met on May 5, 2004 with representatives of the international audit firms.

Mr. Sharifov informed the meeting participants about the briefing (click) organized in London by the Embassy of the Republic of Azerbaijan in United Kingdom , in conjunction with the Anglo-Azeri Society , to inform senior representatives of the governments of the United Kingdom and Norway and the oil companies, international financial institutions and non-governmental organizations on the Azerbaijani government activity within the framework of EITI.

The meeting participants discussed the possible involvement of audit firms into the process of aggregation of the figures provided in the company reporting forms under EITI concerning payments to the government of Azerbaijan.

Ernst & Young, Deloitte & Touche, PriceWaterhouseCoopers and Moore Stephens, and also BP and Exxon Mobil, were represented at the meeting. Mr. Chris Gotch, Secretary for Energy, Trade and Investment of the British Embassy in Baku also attended .

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