Capital expenditures on BTC oil pipeline up in 2014
Baku, Azerbaijan, Feb. 19
By Maksim Tsurkov - Trend:
In 2014, BTC spent $0.2 million in operating expenditure and $0.1 billion in capital expenditure compared to $97 million in 2013, BP report on its activity in Azerbaijan on the results of 2014 said.
The BTC pipeline became operational in June 2006. Since that time BTC has carried a total of over 2.1 billion barrels (280 million metric tons) of crude oil.
In 2014, BTC exported 262 million barrels (34.8 million metric tons) of crude oil.
The total length of the BТС is 1,768 kilometers including a 443 kilometer long section running through Azerbaijan, a 249 kilometer long section in Georgia and a 1,076 kilometer long section in Turkey. The construction of the pipeline started in April 2003. It was filled with oil on May 18, 2005.
The BTC Co. shareholders are: BP (30.1 percent); AzBTC (25 percent); Chevron (8.90 percent); Statoil (8.71 percent); TPAO (6.53 percent); ENI (5.00 percent); Total (5.00 percent), ITOCHU (3.40 percent); INPEX (2.50 percent), ConocoPhillips (2.50 percent) and ONGC (BTC) Limited (2.36 percent).
BTC's throughput capacity is currently 1.2 million b/d.
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