oil fund


EITI National Committee Chairman meets representatives of extractive sector companies

30 Apr 2004 11:00:00

EITI National Committee Chairman meets representatives of extractive sector companies

30 Apr 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 April 30 , 2004 with representatives of companies of Azerbaijan 's extractive sector to discuss a reporting form for companies under EITI and identify a possible “third party” that would aggregate the figures given in the reporting forms on payments to the government of the Republic of Azerbaijan.

Mr. Sharifov briefed the meeting participants about the event (click) organized in London by the Embassy of the Republic of Azerbaijan in the United Kingdom, in conjunction with the Anglo-Azeri Society , to inform senior representatives of the governments of the United Kingdom and Norway and oil companies, international financial institutions and non-governmental organizations (NGOs) on the activity of the government of the Republic of Azerbaijan within the framework of EITI. He underlined that the NGOs attending the London briefing presented differ ing views on the role of the third party in aggregation of the companies' figures . The Committee Chairman pointed out that the different views on the issue indicated that efforts to find an aggregator require re-coordination .

Mr. Sharifov informed the meeting participants that both George Soros, founder of the OSI , and representatives of Transparency International , when commenting on the presentation in London , pointed out that there was no need for aggregation of the figures in the reports presented by the different companies by NGOs or “any other third party” and suggested that it would be better if the figures were aggregated by the Na tional Committee on EITI. “The rep resentatives of Global Witness suggested the reports on payments to the government be published separately by the foreign extractive companies.”

Commenting on the proposals by OSI and Transparency Interna tional, the representative of ExxonMobil said that the company supports the aggregation to be realized by a third party. Mr.Sharifov indicated that in terms of providing transparency he supported the role of NGOs as an aggregator.

The representatives of the extractive sector companies decided to reconsider the matter of aggregation of the figures given in company report s and to submit further proposals.

Following discussions on items included in the reporting forms and proposed changes, the Committee Chairman answered questions posed by meeting participants.

Martin Miles, Sustainable Development Director of bp , voiced his appreciat ion of the measures being taken by the Azerbaijani government for promotion of transparency in the extractive industries.

Commonwealth Oil&Gas, Conoco Phillips, UNOCAL, ExxonMobil, Turkish Petroleum, Itochu, British Petroleum, Devon Energy, Amerada Hess, Salyan Oil, Statoil and SOCAR were represented at the discussions.

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