oil fund


National Committee on EITI launches discussions on company reporting form

18 Mar 2004 11:00:00

National Committee on EITI launches discussions on company reporting form

18 Mar 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 March 18 with the representatives of the Azerbaijan extractive sector companies to discuss a company reporting form under EITI.

Mr. Sharifov indicated that the government of Azerbaijan invites foreign and national companies of the extractive sector to report to the National Committee on EITI on their payments to the government of Azerbaijan. Companies are also invited to publish information on what they paid to the government.

Reports submitted by the companies will be used by the Committee to produce a government report on all payments from the extractive sector companies and make it publicly available.

Reports are to be submitted on a quarterly basis with the first such report to cover the entire 2003.

The meeting participants extensively discussed a draft reporting form prepared by the National Committee on EITI. Discussions covered only oil and gas companies, since other extractive industries are presently idle in Azerbaijan. The meeting participants also agreed to submit the report for 2003 by end of April 2004.

Mr. Sharifov informed the meeting participants that the next meeting on EITI company reporting form will be arranged with the participation of representatives of the non-governmental organizations, “as they have been demonstrating special interest in the process.”

Commonwealth Oil&Gas, Conoco Phillips, Lukoil, Salyan Oil, UNOCAL, ExxonMobil, Turkish Petroleum, Itochu Oil Exploration, British Petroleum and SOCAR were represented at the meeting, though the Committee had sought attendance of all foreign extractive industry companies operating in Azerbaijan. British Embassy Secretary for Energy, Trade & Investment, and the representatives from the national Ministries of Taxes and Fuel and Energy also took part in the meeting.

The National Committee on EITI was established on November 13, 2003 by the Ordinance of the Cabinet of Ministers of Azerbaijan following the instruction of President Ilham Aliyev of Azerbaijan.

The Republic of Azerbaijan joined EITI on June 17, 2003 at the International Conference on EITI in London.

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