SOCAR increases oil exports via BTC
Azerbaijan, Baku, Nov. 3 / Trend E. Ismayilov /
The State Oil Company of the Azerbaijan Republic's (SOCAR) Marketing and Economic Operations Department exported over 23.16 million tons in January-October via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline compared to 20.5 million tons in January-October last year, SOCAR stated in a recent report.
About 27.3 million tons of oil were transported via BTC in January-September. The pipeline transported 3 million tons of oil in September.
The BTC's total length is 1.768 kilometers, including a 443-kilometer section running via Azerbaijan, a 249-kilometer section passing via Georgia and a 1.076-kilometer traversing Turkey. Construction of the pipeline began in April 2003. The pipeline filled with oil on May 18, 2005.
About $4 billion were spent on construction. Filling the pipeline, financial expenses and bank interest payments have not been included in this sum. Financial credit amounts to $2.6 billion.
BTC Co. shareholders include: 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 Amerada Hess (2.36 percent).