ECONOMY


BTC SPENT $834 MILLION DURING FIRST THREE QUARTERS OF 2006

During the first three quarters of the year Baku-Tbilisi-Ceyhan oil pipeline spent $834 million (including the costs of line-fill and financing) in capital expenditure, press service of the BP Azerbaijan said.

The company’s forecast is that BTC’s total capital expenditures will amount to $932 million for this year.

The highest daily flow-rate via BTC to date has been just over 520,000 barrels in September.

The design capacity of one million barrels of oil per day is planned to be reached during 2007 and at its peak the Ceyhan terminal will fill 1-2 tankers per day.

While the BTC pipeline will initially carry only Azeri-Chirag-Gunashli oil, it is expected that future volumes will include those from across the Caspian.

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