Bank Of Baku

BP-Azerbaijan to slash capital expenditure on Baku-Tbilisi-Ceyhan Pipeline this year

BP-Azerbaijan to slash capital expenditure on Baku-Tbilisi-Ceyhan Pipeline this year
# 08 May 2009 09:12 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. During 2008 Baku-Tbilisi-Ceyhan spent $164 million in capital expenditure and the total capital expenditures in 2009 are expected to be $143 million, said BP-Azerbaijan 2009 first quarter results press release.
“We spent $18 million in capital expenditure on BTC activities in the first quarter”, said the press release.
BTC Co. shareholders are BP (30.1%), AzBTC (25.00%), Chevron (8.90%), Statoil (8.71%), TPAO (6.53%), ENI (5.00%), Total (5.00%), Itochu (3.40%), INPEX (2.50%), ConocoPhillips (2.50%) and Hess (2.36%).
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