Bloomberg News

BP’s BTC Pipeline Ships 7% Less Oil in First Half of Year

July 05, 2012

The BP Plc-led Baku-Tbilisi-Ceyhan pipeline delivered 7 percent less crude oil in the first half of the year, said State Oil Co. of Azerbaijan, or Socar, a partner in the pipeline project also known as BTC.

The line shipped 15.78 million metric tons of oil from January through June, down from 17 million tons a year earlier, the Azeri energy producer said on its website today. No reason was given for the decline.

The BTC pipeline, connecting BP’s Sangachal terminal south of the Azeri capital of Baku to Turkey’s Mediterranean port of Ceyhan via Georgia, exports oil from the offshore Azeri-Chirag- Guneshli field, also operated by BP.

The field, known as ACG, produced 8.8 million tons of oil in the first quarter, down 8.3 percent from a year earlier, BP said in May.

Azerbaijan, the third largest oil producer in the former Soviet Union after Russia and Kazakhstan, pumped 45.6 million tons of oil and 25.8 billion cubic meters of natural gas last year.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net


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