First dividend from Baku-Ceyhan pipeline
Azerbaijan received a first dividend from the Baku-Tbilisi-Ceyhan
(BTC) main oil export pipeline on Wednesday. The amount transferred
in 2007 to the State Oil Fund (SOFAR), the body that holds revenues
from the output and exports of oil produced from the country's vast
fields, stood at $16.5 million, the Fund told AssA-Irada.
The contribution made as early as last year indicates that the project on the BP-operated BTC pipeline, which opened in July 2006, has been successful, and proves the route as the most optimal for the transportation of Azerbaijan's hydrocarbons to energy-thirsty world markets.
Over 28.019 million tons of Azeri oil were transported via BTC in 2007.
In December alone, the figure exceeded 2.755m tons. In total, almost 37.39m tons had been transported through the conduit as of January 1, 2008, the state oil company SOCAR said.
About 35.96m tons of oil have been dispatched to world markets from the Turkish Mediterranean port of Ceyhan.
The oil pumped into the 1768-km BTC pipe is extracted from the major Azeri-Chirag-Gunashi (ACG) fields in the Azeri sector of the Caspian Sea. Its throughput capacity is up to one million barrels per day, or 50 million tons a year.
The BTC shareholders are BP (30.1%), SOCAR (25%), Unocal (8.9%), Statoil (8.7%), TPAO (6.5%), Total (5%), ENI (5%), Itochu (3.4%), INPEX (2.5%), ConocoPhillips (2.5%), and Amerada Hess (2.4%).
The contribution made as early as last year indicates that the project on the BP-operated BTC pipeline, which opened in July 2006, has been successful, and proves the route as the most optimal for the transportation of Azerbaijan's hydrocarbons to energy-thirsty world markets.
Over 28.019 million tons of Azeri oil were transported via BTC in 2007.
In December alone, the figure exceeded 2.755m tons. In total, almost 37.39m tons had been transported through the conduit as of January 1, 2008, the state oil company SOCAR said.
About 35.96m tons of oil have been dispatched to world markets from the Turkish Mediterranean port of Ceyhan.
The oil pumped into the 1768-km BTC pipe is extracted from the major Azeri-Chirag-Gunashi (ACG) fields in the Azeri sector of the Caspian Sea. Its throughput capacity is up to one million barrels per day, or 50 million tons a year.
The BTC shareholders are BP (30.1%), SOCAR (25%), Unocal (8.9%), Statoil (8.7%), TPAO (6.5%), Total (5%), ENI (5%), Itochu (3.4%), INPEX (2.5%), ConocoPhillips (2.5%), and Amerada Hess (2.4%).
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
Subscribe
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!