The OPEC Fund for International Development will finance 14.3 million U.S. dollars for the second phase of the studies in the submarine Nigeria-Morocco gas pipeline project.

According to a statement by the Moroccan Ministry of Finance on Friday, the agreement was signed by the Moroccan Finance and Economy Minister Nadia Fettah and the General Director of the OPEC Fund Abdulhamid Alkhalifa.

The Australian company WorleyParsons announced Wednesday in a statement that it has been awarded the second phase of the studies, which is progressing in accordance with the initial project planning.

In January, the Islamic Development Bank has signed an agreement with Morocco to provide 15.45 million dollars to the Nigeria-Morocco gas pipeline studies.

This gas pipeline project would cover 7,000 km long through 13 West African countries, and extend to Europe, according to WorleyParsons.