Kazakh Tengizchevroil comments on possibility of resuming oil supply via BTC
Azerbaijan, Baku, Sept. 29 / Trend E. Kosolapova /
Kazakh "Tengizchevroil" (TCO) signed an agreement to resume oil supply via the Baku-Tbilisi-Ceyhan oil pipeline, Deputy General Manager for Government Affairs and Public Relations David McInnis told Trend via e-mail.
"Tengizchevroil confirms that it signed a contract with Cross Caspian Oil and Gas Logistics for crude oil transportation services and, in parallel, a BTC transportation agreement," he said.
"This further diversifies TCO's transportation options in support of its efforts to optimize crude oil export capacity and costs so as to best meet its customers' needs," he added.
Cross Caspian Oil and Gas Logistics is a joint venture between State Oil Company of Azerbaijan SOCAR and local rail forwarder AzTransRail.
The Tengizchevroil joint venture (TCO) was established by the Kazakh government and Chevron in April 1993 to develop Tengiz oil field.
Today, four companies, including "KazMunaiGas" national company (20 percent), "Chevron Overseas" (50 percent), "Exxon Mobil" (25 percent) and "LukArco" (five percent) are the partners.
The Kazakh Tengiz field is one of the largest oil fields in the world.
BTC Co shareholders are: BP (30.1 percent), AzBTC (25 percent), Chevron (8.9 percent), Statoil (8.71 percent), TPAO (6.53 percent), Eni (five percent), Total (five percent), Itochu (3.40 percent), Inpex (2.5 percent), ConocoPhillips (2.50 percent) and ONGC (2.36 percent).