Azerbaijan, Baku, 29 April / corr. Trend S. Aliyev/ In 2007 Baku-Tbilisi - Ceyhan (BTC) spent $154 million in capital expenditure. BTC's total capital expenditures will amount to $87 million for this year, BP, the operator of the project said.
In early April BTC Azerbaijan achieved a significant milestone by reaching three years without a DAFWC.
Following the start up of BTC export operations in 2006, the pipeline's throughput has steadily increased as facilities and pump stations have been brought on line. The highest daily flow-rate via BTC to date was 932,399 bbls on January 4, 2008.The current export rate via the pipeline is over 850,000 barrels per day and the pipeline is expected to achieve one million barrels per day (approximately 50 million tones per year) in late 2008.
From the first tanker lifting at Ceyhan in June 2006 till the end of the first quarter of 2008 about 326 million barrels (around 44 million tonnes) of crude oil had been exported via BTC. The total volume of oil and condensate exported via BTC during the first quarter of 2008 is about 62 million barrels (over 8.3 million tonnes).
The pipeline celebrated the 400th cargo lifting from the Ceyhan Terminal in Turkey on March 6 and BP expects 500th tanker to be loaded at Ceyhan in early June. To date 453 tankers have been loaded at Ceyhan with a total of about 356 million barrels (about 48 million tonnes) of crude oil transported via BTC and sent to world markets.
While the BTC pipeline currently carries only ACG oil and Shah Deniz condensate. It is expected that future volumes will include those from the North Caspian.
BTC is a world-class pipeline, which is making a positive difference by bringing significant benefits to the region. By avoiding the Turkish Straits, it is relieving the inevitable growth in oil related traffic and associated environmental risks, while creating substantial revenues for the transit countries and helping strengthen economic and political links between Azerbaijan, Georgia, Turkey and the West.
The shareholders BTC are BP (30.1%), AzBTC (25%), Chevron (8.9), StaoilHydro (8.71%), TRAO (6.53%), ENI (5%), Total (5%), Itochu (3.4%), INREX (2.5%), ConocoPhillips (2.5 %) and Hess (2.36 %).