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Oil Transport via Baku-Tbilisi-Ceyhan Pipeline to be Restored Within Several Days: Minister

Oil&Gas Materials 18 August 2008 16:41 (UTC +04:00)
Oil Transport via Baku-Tbilisi-Ceyhan Pipeline to be Restored Within Several Days: Minister

Azerbaijan, Baku, 18 August / Trend / The oil transport via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline will be restored within several days, Hilm Guler, Turkish Energy and Natural Resources Minister, said, the Turkish Cihan agency reported.

According to Guler, there is no fact that the explosion that broke out on the pipeline was a terror act. At present, repair is being carried out in the pipeline.

On the night of 5 August, an explosion broke out on BTC part, which running through Arzincan, Turkey.

The total length of BTC is 1,768km, 443km running through Azerbaijan, 249 - Georgia and 1,706 - Turkey. The construction of the pipeline began in April 2003 and it was made operational on 18 May 2005.

The construction of BTC cost $4bln excluding the expenses incurred to fill the pipeline, financial expenditures and payment of the bank interest rates. The financial credit totaled to $2.6bln.

The shareholders of BTC are BP (30.1%), AzBTC (25%), Chevron (8.90%), StatoilHydro (8.71%), TRAO (6.53%), Eni (5%), Total (5%), Itochu (3.40%), Inpex (2.50%), ConocoPhilips (2.50%) and Hess (2.36%).

The correspondent can be contacted at: [email protected]

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