BTC costs increased in Q1

Baku. 17 May. REPORT.AZ/ In the first quarter of 2018, BTC spent $ 35 mln on pipeline operations.

Report informs referring to the BP-Azerbaijan, approximately $30 million were operating expenditure and about $5 million - capital expenditure.

The total volume of BTC expenditures in the first quarter rose by 3% from the same period last year, and the operating expenses increased by 3.4%, and substantial costs were the same.

Since the 1,768km BTC pipeline became operational in June 2006 till the end of the first quarter of 2018, it carried a total of about 391 million tonnes of crude oil (2.93 billion barrels) loaded on 3,839 tankers and sent to world markets.

In the first quarter of 2018, BTC exported around 63 million barrels (about 8.3 million tonnes) of crude oil loaded on 81 tankers at Ceyhan.

Notably, BTC pipeline starts from the Sangachal terminal, near Baku. Daily capacity of the pipeline is 1.2 million barrels. The 1,768-kilometer BTC pipeline was commissioned in June 2006. Currently, oil from "Azeri-Chirag-Guneshli" and condensate from the "Shah Deniz" mainly transported via BTC pipeline from Azerbaijan. In addition, BTC transports other crude oil and condensate volumes, including transit oil.

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), ExxonMobil (2.50 per cent) and ONGC (BTC) Limited (2.36 per cent).