Tengizchevroil announces access to BTC

Tengizchevroil (TCO), led by ChevronTexaco, awarded commercial contracts which will enable it to export expanded crude oil production via a “Southern Route”, the company announced on Tuesday.

The Southern Route contracts are part of the TCO’s Crude Export Project, which also includes an expansion of crude oil rail facilities at Tengiz. The overall project is targeted with providing export capacity for additional crude production that will be realized upon completion of the SGI/SGP project, also currently underway.

In 2007 TCO is going to increase annual production from 26.5 million tons to 14 million tons after the construction of a natural gas treatment plant in the area of the field with the budget of $2.5bn and gas injection infrastructure ($0.8bn).

Although TCO presently exports all of its production via the CPC pipeline, SGI/SGP production will exceed the existing capacity of this line until the pipeline is expanded, thus necessitating the need for alternate export routes.

The Southern Route will enable Tengiz crude oil to be exported from Kazakhstan through Aktau across the Caspian to Baku, Azerbaijan and onwards to Batumi, Georgia on the Black Sea for further shipment to international markets. The Southern Route will also enable TCO to access the Baku-Tbilisi-Ceyhan pipeline.

As a result of the Crude Export Project, the Republic of Kazakhstan will see a substantial increase in its ability to export crude oil to international markets. Additional benefits realized include the expansion and upgrading of the national rail system, the development of a national crude oil shipping fleet, implementation of higher safety and environmental standards for cross Caspian shipping and associated revenues from the transport of crude via these newly developed export routes.

Iran reveals its COVID-19 data for July 3
Iran reveals its COVID-19 data for July 3
Iran reveals its COVID-19 data for July 2
Iran reveals its COVID-19 data for July 2
Iran reveals its COVID-19 data for July 1
Iran reveals its COVID-19 data for July 1
Loading Bars
Latest
Azerbaijan launches pilot project for breeding highly productive species of livestock
TPAO to continue conducting oil, gas exploration in 2 Turkish provinces
TABIB discloses number of infected people in Azerbaijan’s Nakhchivan Autonomous Republic
Assistant to Azerbaijani president: List of spheres affected by pandemic to be amended
TABIB: Azerbaijan begins to conduct serologic tests
Georgian National Bank takes measures to support tourism sector
Assistant to Azerbaijani president: Those infected people who leave houses - criminally liable
Turkmen company plans to increase harvest of vegetables
Central Bank of Azerbaijan to hold deposit auction
Five-month cargo shipment volume via Turkish Mersin port disclosed
Turkey bans entrance of Kazakhs as anti-COVID quarantine extended
Fitch estimates Georgia Global Utilities regulated water revenue
Aztelekom develops project to improve quality of services in Azerbaijani districts
Kazakhstan starts exporting locomotives to Moldova
PETRONAS Carigali in Turkmenistan opens tender for purchase of high-speed ship
Azerbaijan records growth in export of its products to Switzerland
Erdogan: Some countries' statements on Hagia Sophia - direct interference in Turkey's internal affairs
Data on maritime cargo transshipment from US via ports of Turkey announced
Plastic cards number grows in Kazakhstan year-on-year
Azerbaijan makes changes to SMS permission system during COVID-19 quarantine
Azerbaijan reveals amount of COVID-19 cases revealed in Baku
Info on cargo shipment from Iran via Turkish ports disclosed
Daimler's Mercedes-Benz to streamline global production network
Georgian citizens traveling to Latvia not be placed under mandatory quarantine
Azerbaijan discloses number of fatal COVID-19 cases
Azerbaijan Hotel Association eyes restoring work in post-pandemic period
Russia's Tatneft opens tender for construction, installation work in Turkmenistan
Iran's export to Kuwait declines
Oil demand won’t get back to pre-crisis growth trend for some years
Azerbaijan confirms 583 new COVID-19 cases
IOM assists Turkmenistan in developing counter-trafficking plan
Azerbaijani Cabinet of Ministers approves resolution on toughening quarantine regime
Revenues of Georgian Vannilla Sky decrease
Transport cooperation between Lithuania, Kazakhstan growing despite COVID-19 pandemic
Kim Jong Un says North Korea prevented coronavirus from making inroads
Azerbaijani president sends letter to US conterpart
Raw milk prices increase in Georgia
CAERC talks current operational balance of Azerbaijan
Georgia building new highways
Azerbaijan, Indonesia to sign energy memorandum
Volume of five-month cargo transshipment from UAE via Turkish ports disclosed
Kazakhstan, Uzbekistan agree on co-op in water resources area
Georgia effectively monitors land borders
Kazakhstan's export to South Korea decreases
WB to support sustainable development of beef production in Kazakhstan
Data on cargo movement from Greece via Turkish ports announced
Turkey's export to D-8 countries drops compared to last year
TANAP Natural Gas Transmission Co. sees increase in current assets
Total assets of Azerbaijan’s Bank BTB grow
Thailand's main airport offers rapid coronavirus test for international arrivals
Azerbaijan supports entrepreneurs’ existing loan portfolio
Revenues of TANAP Company up
Azerbaijani, Russian experts highlight economic perspectives of North-South strategy
Macron names Jean Castex as prime minister in government overhaul
Volume of cargo shipment from China via Turkish ports revealed
Industrial production surges in Azerbaijan
Uber widens taxi app to Japan's Tokyo but ride-sharing still barred
Large harvest of potatoes, onions expected in Turkmenistan
Iran reveals its COVID-19 data for July 3
Serbia's capital declares state of emergency over rising COVID-19 cases
Air France unions braced for job cut talks
OECD: COVID-19 limiting inflow of investments into Turkmenistan
Kazakhstan Railways to buy accumulators via tender
Iran to address debt payment issue of productive units
Shell evacuating its staff from Kazakhstan's Kashagan field
Georgia expects rich harvest of wheat, barley
UK-based ITI Capital eyes expanding its product lines in Kazakhstan
EU Delegation to Azerbaijan outlines deliverables for next months
Kazakh Gas Refinery extends tender for pipeline inspection
Azerbaijani gas will add to EU-Azerbaijan bilateral trade – Jankauskas
Caspian Legal Center expanding its services for Azerbaijan's oil, gas sector
New French PM to be named within hours - Macron's office
Prices for Azerbaijani oil continue to rise
India to scrutinize power supply parts imports from China
German Ambassador praises Georgia’s efforts to combat COVID-19
Geostat reveals inflation rates in Georgia in June 2020
French PM Philippe resigns as Macron readies reshuffle
Azerbaijan, Ukraine highly appreciate cooperation at int'l organizations (PHOTO)
Precious metal prices drop in Azerbaijan on July 3
Uzbek students to be able to study at Turkish military universities
Ayan Aliyeva, CEO of A-Level Education Group: “The Foundation program is a 100% guarantee of admission to a range of leading universities around the world”
UNEC employee wins the Special Prize of the International Festival (PHOTO)
Azerbaijan-Iran trade turnover down
Air France unions braced for job cut talks
Georgia reports 4 new COVID-19 cases
OECD looks to help Turkmenistan simplify creation of businesses
Liquified gas imports to Georgia increase
Number of German companies operating in Kazakhstan increases
Mortgage lending through state line increases in Azerbaijan
Huseyn Abdullayev, who scored the maximum number of points at the final exams: ‘My biggest dream is to enter Baku Higher Oil School’
England to relax quarantine rules for around 50 countries
Azerbaijani currency rates for July 3
Nissan's China sales grew 4.5% in June
CPC oil handling down month-on-month at its Marine Terminal
Details of five-month cargo shipment via Turkish Rize port announced
Azerbaijani State Oil Fund's forecast for oil, gas sales in 2020 revealed
Azerbaijan's Central Bank ramps up its currency reserves
Armenia violates ceasefire with Azerbaijan 52 times
Turkey reveals data on cargo movement via its Hopa port
Oil falls as virus resurgence fears weigh on fuel demand recovery
All news