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SCP capital expenditure expected to reach $1.25 bln

SCP capital expenditure expected to reach $1.25 bln

15 May 2014 15:06 (UTC +04:00)

Baku. Agshin Rafigoglu – APA-Economics. During the first quarter of 2014, operating expenditure of the South Caucasus Pipeline made $ 12 mln, capital expenditure - $137 mln.

BP-Azerbaijan told APA-Economics that the operating expenditure is expected to make $50 mln in 2014. Capital expenditure will increase up to $1.25 bln through acceleration of works on SCP expansion.

This pipeline was launched in 2006 and delivers Shahdeniz 1 gas to Azerbaijan and Georgia, from 2007 – to Turkey.

Average transportation capacity of the pipeline is 18.14 mcm of gas or daily 110,430 barrels of oil.

SCP shareholders are BP (technical operator – 28.8%), SOCAR (16.7%), Statoil (15.5%), Total (10%), Lukoil (10%), Niko (10%) and TPAO (9%). These percentages include the recent purchases of equity from Statoil by BP and SOCAR.

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