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Fri 03 September 2010 | 10:38
ECONOMY
Chevron may resume oil export by BTC

Tue 09 March 2010 | 13:25 GMT Text size:

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BTC project

Chevron may resume oil transportation by the BTC pipeline, Vagif Aliyev, chief of the SOCAR Investment Department, told reporters.

“By the information I have, the sides are close to an agreement and they may resume oil pumping from Tengiz field by BTC”, Aliyev said.

Chevron suspended oil export by this route in January 2010. BTC Co (operator on construction and operation of the BTC pipeline) failed to agree with Chevron on tariffs for oil pumping from Tengiz field by the BTC pipeline for 2010. BTC Co wanted to raise existing tariffs but Chevron rejected this proposal giving preference to another route for oil export.

In 2009 BTC transported 1.9 mln tons of oil from the Tengiz field.

Tengiz oil field was discovered in 1979 and is one of the deepest and biggest oil fields in the world. Tengizchevroil was founded on 6 April 1993 on the basis of an agreement between Kazakhstan and Chevron. Currently, Tengizchevroil is operated by Chevron – 50%, Kazmunaygaz-20%, ExxonMobil Kazakhstan Inc -25% and LucArco-5%. Tengizchevroil stopped oil transportation by BTC in January of this year.

Rufat Aliyev
News.Az


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