BP reveals operating, capital expenditures for BTC pipeline
Baku, Azerbaijan, Aug. 22
By Aygun Badalova - Trend:
The volume of capital expenditure for the Baku-Tbilisi-Ceyhan (BTC) oil pipeline totaled $26 million in the first half of 2016, while operating expenditure was approximately $61 million, said BP Azerbaijan company's report on the results of activity in the first half of 2016.
The BTC exported around 17.3 million tons (about 130 million barrels) of crude oil during the reporting period. The pipeline transported 35 million tons (262.8 million barrels) of oil in 2015.
The total length of the BTC pipeline is 1768 kilometers of which 443 goes through Azerbaijan, 249 kilometers through Georgia and 1076 through Turkey.
Construction of the pipeline started in April 2003 and began flowing with oil on May 18, 2005.
Stockholders of BTC Co established on August 1, 2002, 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 (3.4 percent), Inpex (2.5 percent), ConocoPhillips (2.5 percent) and ONGC (2.36 percent).