oil fund


Notification 27.09.2007

Notification 27.09.2007

The Republic of Azerbaijan joined to Extractive Industry Transparency Initiative (EITI) in 2003. Azerbaijan gained wide experience in EITI implementation and is the only country which has already submitted 8 EITI reports. At the 3rd International EITI Board meeting held in Oslo the capital of Norway on 27 September 2007, 15 countries including Azerbaijan obtained an EITI Candidate status. Based on the decision of The EITI International Board Candidate countries willing to become an EITI Compliant country should pass throw Validation process. Azerbaijan has an officially started the Validation process in 2008.

To validate EITI process in countries implementing it the International EITI Board approved seven internationally recognized Companies (Validators) - Coffey Int. Dev. Ltd., ECON, The IDL Group, Goldwyn Int Strategies, Hart Nurse Limited, Oxford Policy Management, PricewaterhouseCoopers and Accountability. In order to proceed with Validation process Validation Working group, comprising of EITI stakeholders (Government of Azerbaijan, Extractive industry companies, and Coalition of Non-governmental organizations) was established. This working group will select one from that list of companies to exercise this process in Azerbaijan. With this purpose Azerbaijan is holding competition between the companies.

Companies willing to participate in this competition can submit their proposals for Validation services to the State Oil Fund of The Republic of Azerbaijan latest by 28 October, 2008 till 18.00.