Capex for Baku-Tbilisi-Ceyhan oil pipeline exceeds $14 million in Q1
Baku, Azerbaijan, May 15
By Emil Ismayilov - Trend:
In the first quarter of 2014 capital expenditures on the Baku-Tbilisi-Ceyhan (BTC) amounted to $14.6 million, according to the BP company's activity report in Q1, 2014.
In accordance with the estimates, the volume of capital expenditures for the BTC in 2014 will amount to $119 million versus $75 million in 2013.
Since June, 2006 and up to the end of the Q1, 2014, some 256 million tonnes of oil (more than 1.9 billion barrels) have been via the pipeline. Some 8.7 million tonnes of oil have been transported via the pipeline in the first quarter of 2014.
The total length of BТС is 1.768 kilometers including the 443-kilometer section running via Azerbaijan, the 249 kilometer section via Georgia and the 1.076 kilometer via Turkey.
Construction of the pipeline began in April 2003 and 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), TRAO (6.53 percent), Eni (5 percent), Total (5 percent), Itochu (3.40 percent), Inpex (2.50 percent), ConocoPhilips (2.50 percent) and Hess (2.36 percent).
The daily capacity of the pipeline is 1.2 million barrels.
Edited by S.I.