All companies operating in Azerbaijan must obey principles of Extraction Industry Transparency, Deputy Minister of Economy Shahin Mustafayev said at the presentation of final version of the EITI report for 2016 developed by Moore Stephens Azerbaijan at the State Oil Company of Azerbaijan (SOFAZ) with the participation of civil society, representatives of international organizations, local and foreign companies and media.
According to him, this the first report prepared after quitting EITI: ‘International Community highly appreciates Azerbaijan’s loyalty to transparency principles of extraction industry. They welcome Azerbaijan’s publication of all information about extraction industry without any commitments. This proves that the accusations against Azerbaijan are groundless. Extraction industry is one of the main sectors of Azerbaijan’s economy. Oil and gas sector makes up 35% of GDP, while it was 70% before. I’m sure that we’ll prepare the report successfully and timely‘.
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