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SOCAR ups oil export via BTC pipeline

Oil&Gas Materials 9 February 2010 17:54 (UTC +04:00)

Azerbaijan, Baku, Feb.9 / Trend /

Marketing and Economic Operations Department (MEOD) of SOCAR (State Oil Company of Azerbaijan) transported over 2.3 million tons of oil through the Baku-Tbilisi-Ceyhan (BTC) in January compared to 1.6 million tons in the same period of 2009, the department reported. About 24.6 million tons of oil was transported via the Baku-Tbilisi-Ceyhan (BTC) in 2009 compared to 20.47 million tons in 2008.  

In 2007 about 20.5 million tons of oil was transported via BTC compared to 1.403 million tons in 2006.

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%).

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