BTC project presents interest for Kazakhstan

Inking financial documents on the allocation of loans for BTC (Baku-Tbilisi-Ceyhan) export pipeline construction that took place in Baku on 3 February, marks not only a new phase in the realisation of this project, but also testifies its consistency and efficiency. Andar Shukputov, ambassador of RK in Azerbaijan, has made this statement, KZ-today correspondent reports from Baku.

According to А. Shukputov, Kazakhstan, as well as Azerbaijan, possesses significant hydrocarbon resources. Today the confirmed hydrocarbon resources of Kazakhstan make 4 billion tons of oil and 2 trillion cubic metres of gas. Moreover, the volumes of oil production in the republic keep growing each year. If 47 million tons were produced in Kazakhstan in 2002, in 2003 that figure exceeded 50 million tons.

According to the ambassador of RK in Azerbaijan, main strategic tasks of RK in oil & gas area have been reflected in the state programme of developing Kazakhstani sector of the Caspian Sea that enables the country to bring the oil production volumes to 100 million tons by 2010 and to 150 million tons by 2015. Therefore the development of export capacities for transportation of oil & gas to the world markets attain a priority significance for the country. "Therefore such large scale project as Baku-Tbilisi-Ceyhan, supported by international financial organisations and respectable banks for sure represents interest for our country adhering to principles of multichoice and multivector policies in the transportation of hydrocarbons", - A. Shukputov has stressed.

The ambassador has reminded that already in November, 1999, Kazakhstan together with Azerbaijan, Georgia, and Turkey inked the Istanbul declaration on the support of "BTC". Besides, according to А. Shukputov, the adherence to the course of co-operation in oil transit through Baku-Tbilisi-Ceyhan project has been recently confirmed once more by the president of Kazakhstan Nursultan Nazarbayev.

The diplomat has observed that currently there are companies developing fields in the Kazakhstani sector of the Caspian among shareholders of this project. Moreover, А. Shukputov has stressed, prospects of co-operation on this project are reflected in the negotiating process, the target of which is to develop a corresponding law basis and technical conditions for the transportation of Kazakhstani oil through the BTC pipeline. "We are sure that the negotiations on this issue will be completed positively and soon", - the ambassador has concluded.

According to estimates, Kazakhstan will be able to pump up to 20 million tons of oil per year to Baku-Tbilisi-Ceyhan pipeline, although the initial volume of Kazakhstani oil will make 7.5 million tons of oil per year, taking into consideration 15% share participation of companies operating in RK such as ENI, ConocoPhilipps, INPEX, Total in BTC Co.