Azerbaijan, Baku, Jan. 7 / Trend E. Ismayilov /
The Memorandum of Understanding signed between SOCAR Geology and Geophysics Department and BP Exploration Azerbaijan in December last year, will facilitate the process of rendering services for the British company that is a participant of the major oil and gas projects in Azerbaijan, a source on the oil and gas market said.
He said that according to the memorandum, the department is allowed, without getting permission from SOCAR, to provide information and services to BP for projects in which the company participates. It is necessary to have special permission of SOCAR to obtain the data and use the services of the department within other projects in Azerbaijan.
"The memorandum will allow the department to provide its services according to a memorandum directly, without a special permission, but only within the projects in which BP is a participant. It will facilitate and enhance cooperation between the parties," a source said.
The Memorandum of Understanding was signed to provide technical services.
The memorandum reflects the intention of signing a contract to provide exploration services, seismic data processing, preparation of geological and geophysical maps and other technical services.