SOCAR & Gazprom Germania to sign agreement
Azerbaijan, Baku, Oct. 5 / Trend E.Ismayilov /
SOCAR (State Oil Company of Azerbaijan) and Gazprom Germania ZMB GmbH will soon sign an agreement on services "in assisting in the implementation of the project on utilization of low pressure associated gas in the areas of the Oil Rocks Oil and Gas Management, a source in t SOCAR said.
"At present, negotiations are underway and agreement will be signed soon," the source said.
Under this project, Gazprom Germania will provide technical assistance and perform validation (verification). This project involves the collection of associated gas at the sites of the Oil Rocks and Muddy Volcano fields.
In summer the two companies has discussed and considered this agreement. Discussions were held during the Baku visit of Gazprom Germania' experts, David Graebe and Eric Vaigelt. The possibility of continuing the project under the clean development mechanism is assessed during the visit, SOCAR Ecology Department said earlier.
SOCAR submitted this project proposal to the German company in early 2008. SOCAR and Gazprom Germania signed confidentiality agreement.
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