According to her, the board is to consider the course of the BTC construction and to sump up the 2004 results.
Pipe-laying and welding operations on Azerbaijan's territory have been already completed, however, the work is still underway in Turkey and Georgia.
The BTC pipeline will be put into commission in the first half of 2005. The first oil will be piped in the second half of next year. The pipeline's capacity is 50 million tons of oil a year (1 million barrels daily).
On the whole the project of the pipeline which is 1,768 km long (443 km in Azerbaijan, 249 km in Georgia and 1,076 km in Turkey) is worth $3.72 billion. The cost of the construction is $2.95 billion, while the rest of the sum accounts for the rise in the project's cost and interest charges on credits.
At the moment, over $3 billion have been spent on the project implementation.
The participants in the project are BP (30.1%), GNKAR (the State Petroleum Company of the Republic of Azerbaijan) (25%), Unocal (8.9%), Statoil (8.71%), TPAO (6.53%), ENI (5%), Itochu (3.4%), ConocoPhillips (2.5%), INPEX (2.5%), Total (5%) and Amerada Hess (2.36%).
