WB, SOCAR to sign grant agreement
The World Bank (WB) and the State Oil Company of Azerbaijan (SOCAR) will sign an agreement on allocation of $481,000 grant by the WB on 10 November, the Baku representation of the bank told Trend.
вЂњThe WB allocates the grant to assist in the development of the project on utilization of accompanying gas in Guneshli field. The consultant will be selected within use of the grant,вЂќ the Baku representation of the bank said.
The document is planned to be signed by Dona Douset-Koyrolo, the Director of the WB on the South Caucasus, and Natig Aliyev, the President of the SOCAR.
The project is supposed to give opportunity to increase collection of accompanying gas in the field by 2m cu m in a day. The gas will hand over Azerbaijan Gas Refinary Plant. The current production of gas by SOCAR comprises 6.5m cu m gas per day.
The Japanese Oil Engineering Co renders consultative services to the SOCAR on expedient use of accompanying gas. It explores prevention of gas leakage, economical and effective use at power stations.