Extractive Industries Transparency Initiative (EITI) reports for the first 6 months of the year 2005 will be collated by AGN Mak Azerbaijan LTD 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 (oil and gas) and the NGOs’ Coalition for Increasing Transparency in Extractive Industries to implement EITI in Azerbaijan. Tender has been announced by SOFAZ, as it is to pay the audit company’s fees for collation of the third cycle reports as per MOU.

Envelopes containing proposals from 2 internationally recognized audit companies- Deloitte & Touche and PriceWaterHouseCoopers - operating in the Republic of Azerbaijan and AGN Mak Azerbaijan LTD, the local audit company, which is the member of the Accountant’s Global Network were unsealed on September 29, 2005 at the meeting of the Selection Group to assess the financial and technical proposals of the bidders. Five companies were invited to bid, but Ernst & Young and Moore Stephens declined the invitation.