Azerbaijani SOCAR ups oil pumping via BTC
Azerbaijan, Baku, July 8 / Trend /
The State Oil Company of the Azerbaijan Republic (SOCAR) shipped 17.7 million tons of oil via the Baku-Tbilisi-Ceyhan (BTC) pipeline in January-May 2009, compared to 9.5 million tons of 2008, SOCAR said.
Roughly 3.3 million tons of oil was transported via the pipeline in May. A total of 88.1 million tons of oil had been transported via the pipeline since beginning of the year.
The total length of Baku-Tbilisi-Ceyhan is 1,768 kilometers, out of which 443 kilometers is running in Azerbaijan, 249 kilometers - in Georgia and 1,076 kilometers - in Turkey. The construction of the pipeline was commenced in April 2003. The pipeline was filled on May 18, 2005.
A total of $4 billion has been spent for the construction of pipeline, not including the fulfillment of the pipeline, financial expenses and payment of the bank rates. The credit allocated for the project totaled $2.6 billion.
BTC Company Shareholders includes: BP (30.1 percent); AzBTC (25 percent); Chevron (8.90 percent); Statoil Hydro (8.71 percent); ТРАО (6.53 percent); Eni (5 percent); Total (5 percent); Itochu (3.40 percent); Inpex (2.50 percent); ConocoPhillips (2.50 percent) and Hess (2.36 percent).