BTC Co directors' council meeting to be held in Baku

Oil&Gas Materials 6 April 2006 17:06 (UTC +04:00)

BTC Co directors council meeting will be held on April 13 in Baku. The Baku-Tbilisi-Ceyhan pipeline realization and possible increasing of its cost will be discussed at the meeting, the head of the State Oil Fund, Samir Sharifov told Trend.

If the increasing of the project costs will be accepted by the project participants, SOFAR will address the government asking to increase the state` s share in the project, he said. Currently government invested 25% in BTC. 70% of this amount comes from the government and 30% from SOFAR. 38m AZM are expected to be allocated to the project this year.

Termination of the pipeline construction on the Turkish territory is controlled by Botas company, there are also some lagging behind the schedules which can lead to the increase in the project` s cost.