OREANDA-NEWS. May 18, 2010. The State Oil Company of Azerbaijan (SOCAR) continues working over development of its ecological operations, carried out through  Ecol Engineering Services CJSC.

According to Vice President for Ecology Issues of Ecol Engineering Services Soltan Aliyev, the memorandum of intentions was signed between SOCAR President and CEO of ”Uzneftgaz”    on establishment of the joint venture for processing of oil detritus and purification of oil-contaminated soil.

“For the time being, the question is not the contract,  but a working group for preparation was created. Process  of preparation of  documentation is in progress, including estimations of demand for attraction of investments and the equipment. In particular, Azerbaijan will buy for the joint venture new installations -  separators,” S. Aliyev said.

Ecol Engineering Services will represent Azerbaijan in this case.

New venture Uz Ecol will be engaged in purification of oil-contaminated water, processing of oil detritus in the territory of Mubarekneft, located 1,000 km from Tashkent.

The agreement will be signed in the next few days. Presently, talks are held on parity division of participation (50% by 50%).