More than two million tons of oil transported via BTC pipeline in 2011

Oil&Gas Materials 9 January 2012 17:03 (UTC +04:00)

Azerbaijan, Baku, Jan 9 /Trend E.Ismayilov/

About 2.24 million tons of Turkmen oil was transported via the Baku-Tbilisi-Ceyhan (BTC) pipeline in 2011, compared to 1.3 million tons in 2010, according to a press release issued by the State Oil Company of Azerbaijan (SOCAR) on Monday.

It said that 204.76 thousand tons of oil from Turkmenistan was transported through the BTC in December 2011. Pumping capacity of the pipeline is 1.2 million barrels of oil per day.

Transportation of Turkmen oil via the BTC is carried out under a contract with SOCAR Trading with Dragon oil, after extracting it in Turkmenistan. The contract between the parties has been extended to the end of this year. Oil transportation via the BTC began in July 2010.

SOCAR Trading buys crude oil from producers in Turkmenistan, the transports it through the Caspian Sea to Baku where the inlet flange of the Baku-Tbilisi-Ceyhan pipeline is located. The BTC Co transports the oil through the Baku-Tbilisi-Ceyhan route leasing it to SOCAR Trading in the Mediterranean port of Ceyhan.

BTC Co shareholders are: BP (30.1 per cent), AzBTC (25 per cent), Chevron (8.90 per cent), Statoil (8.71 per cent), TPAO (6.53 per cent), Eni (5 per cent), Total (5 per cent), Itochu (3.40 per cent), Inpex (2.50 per cent), ConocoPhillips (2.50 per cent) and Hess (2.36 per cent.