IT HAS BEEN A YEAR SINCE LAYING FOUNDATION OF BTC
President of the State Oil Company of Azerbaijan Republic Natig Aliyev, senior Executive Director of BTC project Michael Townzend, ambassadors of Turkey, Georgia Ahmet Unal Chevikez and Zurab Gumberidze updated in details upon the work implemented on the enlarged part of Sangachal terminal.
It was noted that within the last year a rapid advancement has been gained in the construction of the pipeline whose foundation had been laid by presidents of Azerbaijan, Georgia and Turkey. Hard work is being implemented on 17 sites of the pipeline from Baku to Ceyhan. Up to date, over $1 billion has been spent on realization of the project. The project will expire in the fourth quarter of 2004 and first oil from “Azeri” field will be exported in early 2005.
SOCAR president Natig Aliyev particularly stressed the historical activity of author of the BTC project President Heydar Aliyev saying: “We feel proud that we are witnesses of turning into reality of the pipeline, which will connect Azerbaijan with Georgia and Turkey, and then with world markets. It reaffirms that President Heydar Aliyev’s oil strategy is right.”
Executive director of BTC project Michael Townzen informed that 40 percent of the BTC construction had been completed. Over 10 thousand workers and 2200 of them are from Azerbaijan. Up to now, over 100 companies have been involved through CCIC company-contractor of BTC construction, 37 service companies - through Spi KapaqPetrofak constructing offshore structures and contractor Azfen/Tekfen has involved 55 local auxiliary contractors to construction works on Sangachal.
Speakers noted that BTC is an important project, which will be of benefit to the region and foster positive changes. Passing by the Bosporus strait, the pipeline will prevent inevitable increase in oiltransport, reduce environmental risk, bring high income for transit countries, and promote strengthening of economic and political ties between Azerbaijan, Turkey and West.
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