• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

BP Has the Largest Share in the Project of the Oil Pipeline Between the Caspian Sea and Turkey

Posted on: Wednesday, 20 July 2005, 06:00 CDT

British Petroleum (BP) (UK), oil concern, has the largest share in the project of the oil pipeline between the Caspian Sea and Turkey, 30%. The giant project project of the oil pipeline Baku, Azerbaijan - Tbilisi, Georgia - Ceyhan, Turkey (BTC) with a capacity of 1 mil/d barrels with a possibility of an increase to nearly 1.8 mil/d barrels was realized by the international consortium of 11 multinational concerns with the support of the USA

. BTC, which was commissioned on 25 May 2005, has a length of 1,770 km. It does not go through Russia and the unstable Near East. The full operation of the oil pipeline will be started at the end of 2005, when the filling of the first tankers in Ceyhan is started. All the project BTC cost about USD 4 bil. The construction of the oil pipeline took 11 years and the life of BTC was fixed at 40 years. The line goes from the oil field Chirag Gunasli in the Caspian Sea, which is owned by BP, to the port Ceyhan at the seaside of the Mediterranean Sea. The exports of oil from the Caspian Sea have new prospects.

Source: Access Czech Republic Business Bulletin

More News in this Category