Azerbaijan-Arab JV starts environmental project in Azerbaijan
Azerbaijan, Baku, Dec. 7 / Trend E.Ismayilov /
Within the joint venture created earlier with the State Oil Company of Azerbaijan Republic (SOCAR), Baqhlan Group FZCO Company (UAE) has already begun work on project cleaning oil-polluted areas in Buzovna village of Baku, a source in SOCAR said.
According to the source, the process of registration has been completed and organizational work and work on the supply of equipment, which in future will be mounted, continues.
The project envisages cleaning oil-polluted land, oil sludge and stratal water that had accumulated at in this territory. The project also envisages the extraction of hydrocarbons from oil-polluted land and oil sludge.
The company has already selected an area of 38.6 hectares and prepared a topographical map of the area under the project in the oil and gas unit name after H.Z.Tagiyev, Baqhlan Company Project Coordinator John Coch said at the meeting with SOCAR representatives earlier. The level of pollution in some places reaches a depth of 8.7 meters. This area was chosen because of sufficient number of oil tanks, pipelines and pumps on its territory. It is projected that this project will bring profit to both parties.
The Azerbaijani Taxes Ministry has registered "SOCAR Baglan" closed joint-stock company through the "single window". The company passed registration on Sept.17.SOCAR (State Oil Company of Azerbaijan) and Baglan oil recovery Limited (United Arab Emirates) are the founders of the joint venture (JV). The JV's authorized capital is $100,000.
Azerbaijan has 59 oil and gas fields and 18 of them are offshore fields.
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