AGREEMENT ON KAZAKHSTANвЂ™S JOINING BTC PROJECT TO BE SIGNED IN OCTOBER 2005
(Kavkaz-Press) вЂ" The intergovernmental agreement on the KazakhstanвЂ™s joining Baku-Tbilisi-Ceyhan (BTC) project will be signed in October 2005, Vladimir Shkolnik, the Energy and Mineral Resources Minister, said to a meeting in Aktau.
According to Shkolnik, the Actau-Baku section will work as independent section. A new terminal will be constructed in order to establish the Actau-Baku system, as well as connective pipelines.
The capacity of the system will comprise 30m tons oil per year with the transportation of 7.5m tons in the first stage. The volume of the investments will be determined after signing of the intergovernmental agreement. The new system will be constructed by the moment of transportation of the first oil from the Kashagan field.
The length of the BTC oil pipeline is 1767 km with 443 km in Azerbaijan, 248 km in Georgia, 1076 km in Turkey. The capacity of the pipeline comprises 50m tons oil per year. The shareholders of the BTC are BP (30,1% ), SOCAR (25%), Unocal (8,9%), Statoil (8,71%), TPAO (6,53%), Itochu (3,4%), Amerada Hess (2,36%), ENI (5%), ConocoPhilliСЂs (2,5%), InСЂex (2,5%), Total (5%). ENI, ConocoPhillips, Inpex and Total participated at the contract on development of the Kashagan field.