Capital expenditures on Baku-Tbilisi-Ceyhan (BTC) up by 28%

Baku. 18 November. REPORT.AZ/ During the first three quarters of 2016, BTC spent approximately $87 million in operating expenditure and $41 million in capital expenditure. Report informs referring to BP-Azerbaijan.

Since the 1,768km BTC pipeline became operational in June 2006 till the end of the third quarter of 2016 it carried a total of about 2.55 billion barrels (around 341 million tonnes) of crude oil loaded on 3,354 tankers and sent to world markets.

During the three quarters of 2016, BTC exported around 193 million barrels (about 25.7 million tonnes) of crude oil loaded on 242 tankers at Ceyhan.

BTC expenses decreased by 7% compared to the same period last year. Operating expenses decreased by 18%, while capital expenditure increased by 28%.

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

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