Financial Transparency

Financial Transparency

Nobel Oil Services continually demonstrates high performance both operational and financial. The Company values and fosters transparency which is also observed among all of its affiliates.

Since 2017 Nobel Oil holds a status of the “Transparent Tax Partner” granted by the Ministry of Taxes of the Republic of Azerbaijan for its transparent financial performance. Award of this status isĀ­ a new approach in establishment and further increase of mutual trust and efficient cooperation between taxpayers and tax authorities.

The company shall meet a number of criteria to receive the Status. The taxpayer shall firstly hold their accounting in line with international and local accounting standards, file tax reports and pay all taxes in full and in a timely manner, properly state the employee numbers and their salaries, possess secure e-signature. The taxpayer shall not be under economic criminal prosecution during last 3 years and shall not make any transactions with taxpayers at risk.

Prokon and Global Energy Solutions, the subsidiaries of Nobel Oil Services also hold the “Transparent Tax Partner” status.

Nobel Oil Services conducts its business in line with internationally recognized standards and regulations. The Company is audited by Deloitte, one of the "Big Four" accounting firms. As a UK registered company Nobel Oil Services has the Governance framework which complies with the UK Governance Code and UK legislation. Learn more