Capital expenditures on BTC oil pipeline to increase by 60% in 2014

Oil&Gas Materials 13 February 2014 17:06

Baku, Azerbaijan, Feb. 13

Trend - Emil Ismayilov

According to the forecasts, in 2014, the volume of Capital expenditures on Baku-Tbilisi-Ceyhan oil pipeline will reach $119 million versus $75 million in 2013, the BP`s report issued on Feb. 13 said.

From June 4, 2006 up to the end of 2013, 2,390 tankers were loaded at Ceyhan with a total of 1,835 million barrels (245.4 million tonnes) of crude oil transported via BTC and sent to world markets.

In 2013, BTC exported about 247.2 million barrels (33 million tonnes) of crude oil loaded on 329 tankers at Ceyhan.

The total length of the BТС is 1,768 kilometers including a 443 kilometer long section running through Azerbaijan, a 249 kilometer long section in Georgia and a 1,076 kilometer long section in Turkey.

The construction of the pipeline started in April 2003. It was filled with oil on May 18, 2005.

The shareholders of BTC are BP (30.1 percent), AzBTC (25 percent), Chevron (8.90 percent), Statoil (8.71 percent), TPAO (6.53 percent), Eni (five percent), Total (five percent), Itochu (3.40 percent), Inpex (2.5 percent), ConocoPhilips (2.50 percent) and ONGC (2.36 percent).

Translated by R.A.

Edited by C.N.