FIELD: oil and gas production. SUBSTANCE: invention is aimed at utilizing associated oil gas usually being burned in flambeau lights at oil pools to produce formaldehyde in the form of its aqueous solution according to improved procedure. Improvements consists in using, as oxidation catalyst, molybdenum-cobalt catalyst applied onto silica gel in quantity 0.15-1% based on carrier weight, and oxidation is carried out at 600-650 C with methane content in methane-air mix 26-35 vol.%. EFFECT: improved selectivity of reaction in respect to formaldehyde.
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