SOCAR ups oil pumping via BTC
Azerbaijan, Baku, Nov. 10 / Trend /
Marketing and Economic Operations Department (MEOD) of SOCAR (State Oil Company of Azerbaijan) transported about 20.5 million tons of oil through the Baku-Tbilisi-Ceyhan (BTC) in January to October which is equal to the index of the same period of 2008, the department reported.
In 2007, the department transported about 6.5 million tons of oil through this pipeline.
The total length of BТС is 1.768 kilometers including the 443 kilometer section running via Azerbaijan, the 249 kilometer section via Georgia and the 1.076 kilometer via Turkey. Construction of the pipeline began in April 2003 and it was filled with oil on May 18, 2005.
A total of $4bilion has been spent for the construction of BTC not including fill-up of pipeline, financial expenses and payment of the bank rates. The credit allocated for the project totaled $2.6bilion.
BTC Co. shareholders include BP (30.1%); AzBTC (25%); Chevron (8.90%); Statoil Hydro (8.71%); ТРАО (6.53%); Eni (5%); Total (5%); Itochu (3.40%); Inpex (2.50%); ConocoPhillips (2.50%) and Amerada Hess (2.36%).