bp reduces capex, opex on Baku-Tbilisi-Ceyhan y-o-y

Oil&Gas Materials 9 February 2023 15:42 (UTC +04:00)
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, Feb.9. In 2022, Baku-Tbilisi-Ceyhan (BTC) spent about $100 million in operating expenditure and $27 million in capital expenditure, as compared to $119 million and $34 million, respectively in 2021, Trend reports with reference to bp.

As such the operating and capital expenditure on BTC dropped by almost 16 percent and 20.6 percent, respectively year-on-year.

On 23 March 2022, the BTC pipeline reached a significant milestone by loading the 5,000th tanker of oil transported from the Sangachal terminal near Baku across Azerbaijan, Georgia and Türkiye to Ceyhan.

Since the 1,768 km BTC pipeline became operational in June 2006 till the end of 2022, it carried a total of 3.99 billion barrels (more than 531 million tonnes) of crude oil loaded on 5,244 tankers and sent to world markets. On 18 January 2023, BTC achieved the 4 billion barrels of oil export milestone.

BTC Co. shareholders are: bp (30.1%), SOCAR (25.00%), MOL (8.90%), Equinor (8.71%), TPAO (6.53%), Eni (5.00%), TotalEnergies (5.00%), ITOCHU (3.40%), INPEX (2.50%), ExxonMobil (2.50%) and ONGCVidesh (2.36%).

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