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BTC exported 8.7 million tonnes of crude oil during first quarter

15 May 2014 14:07 (UTC +04:00)

Baku. Agshin Rafigoglu – APA-Economics. During the first quarter of 2014, Baku-Tbilisi-Ceyhan pipeline exported about 66 million barrels (8.7 million tonnes) of crude oil loaded on 88 tankers at Ceyhan.

BP-Azerbaijan told APA-Economics that during the first quarter, BTC spent $14.6 million in capital expenditures. For the full year, BTC capital expenditures are expected to be about $119 million.

The 1,768 km BTC pipeline became operational in June 2006. Since that time BTC has carried a total of over 1.9 billion barrels (256 million tonnes) of crude oil and sent to world markets.

The BTC pipeline currently carries mainly ACG oil and Shah Deniz condensate from Azerbaijan. In addition, crude oil from Turkmenistan continues to be transported via BTC. Starting October 2013, transportation of some volumes of Tengiz crude oil through the BTC pipeline resumed. In addition, in February 2014, the direction of flow through the SOCAR-operated Northern Route Export Pipeline (NREP) was successfully reversed. This was a result of a collaborative effort by BP and SOCAR to activate some facilities along NREP. Commercial agreements were finalised which allowed Russian crude to be exported via BTC.

The BTC Co. shareholders are: BP (30.1 per cent); AzBTC (25.00 per cent); Chevron (8.90 per cent); Statoil (8.71 per cent); TPAO (6.53 per cent); ENI (5.00 per cent); Total (5.00 per cent), ITOCHU (3.40 per cent); INPEX (2.50 per cent), ConocoPhillips (2.50 per cent) and ONGC (BTC) Limited (2.36 per cent).