oil fund


Notification 30.06.2009

Notification 30.06.2009

Extractive Industries Transparency Initiative (EITI) 2009 semi-annual reports' tender has been announced by the State Oil Fund of the Republic of Azerbaijan following the decision of the Selection Group to approve invitation to bid and Terms of Reference for Audit. Deadline for submission of bids is 6 p.m. July 14, 2009.

The Selection Group 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. The group comprising representatives of the MOU signatories is charged with the task of selecting, on a competitive basis, an audit firm to collate reports to be submitted by the government and extractive sector companies. State Oil Fund provides logistical assistance to the Selection Group and its activities as per MOU.

On grounds of its previous experience the Selection Group approved to send invitations to 4 internationally recognized audit companies - Ernst &Young, Deloitte & Touche, PriceWaterHouseCoopers and Moore Stephens, operating in the Republic of Azerbaijan.