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In 2008 SOFAZ Dividends from Baku-Tbilisi-Ceyhan Project Make up $140mln

Oil&Gas Materials 25 January 2008 17:04 (UTC +04:00)

Azerbaijan, Baku, 25 January / Trend corr. I.Khalilova / In 2008, about $140mln was transferred to the State Oil Fund of Azerbaijan (SOFAZ) as a dividend on the Baku-Tbilisi-Ceyhan pipeline project, Shahmar Movsumov, SOFAZ executive director, stated during the press-conference on 25 January.

The Fund received the first dividends of Baku-Tbilisi-Ceyhan (BTC) project on 16 January. About 37.4mln tons of light oil produced from the Azeri-Chirag-Gunashli filed, was transported through the pipeline.

The carrying capacity of BTC pipeline is 50mln tons per year. BP is the operator of the pipeline. The construction cost of BTC was $4bln. The sum was spent only on the construction work. The sum total of financed credit made up $2.6bln.

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