Capital expenditures on BTC pipeline drop

Oil&Gas Materials 13 May 2015 19:56 (UTC +04:00)

Baku, Azerbaijan, May 13

By Maksim Tsurkov - Trend:

In the first quarter of 2015, BTC spent approximately $44 million in operating expenditure and $4 million in capital expenditure, BP said in its report on the results of its activities in Azerbaijan in Q1 of 2015.

This is while the volume of capital expenditures on Baku-Tbilisi-Ceyhan stood at $14.6 million in Jan.-March 2014.

BTC has carried a total of about 2.2 billion barrels (289 million metric tons) of crude oil since 2006, said the report.

In the first quarter, BTC exported about 69 million barrels (9 million metric tons) of crude oil, according to the report.

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.

BTC Co. shareholders 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), as well as, Itochu (3.4 percent), Inpex (2.5 percent), ConocoPhillips (2.5 percent) and ONGC (2.36 percent).

BTC's throughput capacity is currently 1.2 million barrels per day.

Edited by CN


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