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bp reduces capex, opex on Baku-Tbilisi-Ceyhan

Oil Materials 4 August 2022 14:17
Baku, Azerbaijan Trend News Agency Leman Zeynalova
bp reduces capex, opex on Baku-Tbilisi-Ceyhan

In the first half of 2022, Baku-Tbilisi-Ceyhan (BTC) spent about $49 million in operating expenditure and about $9 million in capital expenditure, as compared to $69 million in operating expenditure and more than $12 million in capital expenditure in H1 2021, Trend reports via bp.

As such the opex and capex on BTC dropped by nearly 29 percent and 25 percent, respectively, year-on-year.

On 23 March 2022, BTC reached a significant milestone by loading the 5000th tanker of oil transported from the Sangachal terminal near Baku across Azerbaijan, Georgia and Turkey to Ceyhan.

Since the 1,768 km BTC pipeline became operational in June 2006 till the end of the second quarter of 2022, it carried a total of 3.87 billion barrels (more than 516 million tonnes) of crude oil loaded on 5,087 tankers and sent to world markets.

BTC Co. shareholders are: bp (30.1%), SOCAR (25.00%), MOL (8.90%), Equinor (8.71%), TPAO (6.53%), Eni (5.00%), TotalEnergies (5.00%), ITOCHU (3.40%), INPEX (2.50%), ExxonMobil (2.50%) and ONGCVidesh (2.36%).

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