BTC sees decline in expenditures

In the first quarter of 2020, Baku-Tbilisi-Ceyhan (BTC) operating expenditures remained unchanged at $25 million and about capital expenditure dropped 50% to $3 million, Report informs, with reference to BP-Azerbaijan.

operating

Since the 1,768 km BTC pipeline became operational in June 2006 till the end of the first quarter of 2020, it carried a total of 3.41 billion barrels (more than 455 million tonnes) of crude oil loaded on 4,457 tankers and sent to world markets.

In the first quarter, BTC exported more than 58 million barrels (about 7.7 million tonnes) of crude oil loaded on 76 tankers at Ceyhan, down 3.75% from the previous year.

The BTC pipeline currently carries mainly ACG crude oil and Shah Deniz condensate from Azerbaijan. In addition, other volumes of crude oil and condensate continue to be transported via BTC, including volumes from Turkmenistan, Russia, and Kazakhstan.

The BTC Co. shareholders are: BP (30.1%); AzBTC (25.00%); MOL (replaced Chevron as of 16 April 2020 (8.90%); Equinor (8.71%); TPAO (6.53%); Eni (5.00%); Total (5.00%), ITOCHU (3.40%); INPEX (2.50%), ExxonMobil (2.50%) and ONGC (BTC) Limited (2.36%).