Azerbaijan exports over 340 million tonnes of oil

Oil&Gas Materials 8 May 2014 17:08 (UTC +04:00)

Baku, Azerbaijan, May 8

By Emil Ismayilov - Trend:

Around 345 million tonnes of oil was supplied to world markets from Azerbaijan via three pipelines and a railway as of May 1, 2014.

This is said in the article of Khoshbakht Yusifzadeh, the First Vice-President of State Oil Company of Azerbaijan (SOCAR), published in the Respublika newspaper on May 8.

Around 244.6 million tonnes out of the total volume of exported Azerbaijani oil, fell to the Baku-Tbilisi-Ceyhan oil pipeline, 67.7 million tonnes - Baku-Supsa oil pipeline, 11.2 million tonnes - Baku-Novorossiysk pipeline, as well as 20.2 million tonnes of oil was supplied to world markets via a railway, according to the article.

The capacity of the Baku-Tbilisi-Ceyhan oil pipeline, which has a direct access to the Mediterranean Sea, is 50 million tonnes, with the possibility of increasing to 60 million tonnes in the future.

The total length of the BTC pipeline is 1,768 kilometers, some 443 kilometers of which runs through Azerbaijan, 249 kilometers through Georgia and 1,076 kilometers through Turkey. Construction of the pipeline started in April 2003 and began flowing with oil on May 18, 2005.

BTC Co., was established on August 1, 2002, stockholders are: BP (30.1 percent), AzBTC (25 percent), Chevron (8.9 percent), Statoil (8.71 percent), ТРАО (6.53 percent), Eni (5 percent), Total (5 percent), Itochu (3.40 percent), Inpex (2.5 percent), ConocoPhillips (2.50 percent) and ONGC (2.36 percent).

The proven oil reserves of Azerbaijan are estimated at two billion tonnes.

Translated by L.Z.

Edited by C.N.