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During 50 months over 252 million tons of oil transported via Baku-Tbilisi-Ceyhan pipeline

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From January to July 2014 17,087,200 tons of oil was pumped via the Baku-Tbilisi-Ceyhan (BTC) pipeline. The oil pumping declined by 3.7% against the same period last year.

            State Oil Company of Azerbaijan (SOCAR) reported that in July 2014 2,544,006 tons of oil was transported via the BTC.

            Since putting of the BTC pipeline into operation on June 4, 2006 till August 1, 2014 a total of 252,228,793 tons of oil was transported via the BTC.

            BTC oil pipeline is 1,768 km long, of which 443 km passed through Azerbaijan, 249 km lies in Georgia and 1,076 km in Turkey. The carrying capacity of the pipeline since March 2010 is 60 million tons of oil a year.

            From 2003 to 2006 the capital outlays for the pipeline construction totaled $5.4 billion. Azerbaijan has invested $297 million into this project (70% of funds have been invested as bank credits). This year dividends from BTC operation will reach $1 billion, of which over half was received by the Oil Fund (SOCAR receives dividends since 2012).

            The project participants include  BP (30.1%); SOCAR (25%); Chevron (8.9%); Statoil (8.71%); TPAO (6.53%); Eni (5%); Itochu (3.4%); ConocoPhillips (2.5%); INPEX (2.5%), Total (5%) and ONGC (2.36%).

 

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