Conclusion Of Study For Trans-Balkan Oil Pipeline
2002-09-27 11:05:56
The Governments of the Republic of Bulgaria, Macedonia, and Albania and
the Board of Directors of AMBO LLC (Albanian-Macedonian-Bulgarian Oil
pipeline corporation) announced that the United States
Government-sponsored feasibility study for the Trans-Balkan Oil Pipeline
project has been successfully completed and delivered to the contracting
parties.
The United States Government�s Trade & Development Agency provided
significant financial support towards completing a full USD 1 M study,
which updated and enlarged the project's original feasibility study
dating from early 1996.
The Trans-Balkan Oil Pipeline will carry crude oil from the Bulgarian
Black Sea port of Bourgas to the Albanian Adriatic Sea port of Vlor�.
AMBO, which is a privately-funded company headquartered in Pound Ridge,
New York, is the developer of this USD 1.1 Bln. project.
Together with the U.S. Government's South Balkan Development Initiative
(SBDI) and the Stability Pact process, the AMBO pipeline will become an
integral part of East-West corridor number 8 including highway, railway,
gas, and fiber-optic telecommunications lines. Specifically, the AMBO
pipeline will permit oil companies operating in the Caspian Sea to ship
their oil to Rotterdam and the East Coast of the USA at substantially
less cost than they are experiencing today.
Brown & Root Energy Services, a wholly-owned subsidiary of Halliburton,
an American company, completed the original feasibility study for this
project. The pipeline - 36" diameter with a projected throughput of
750,000 barrels per day - will extend for approximately 890 km reaching
a maximum altitude of approximately 1,000 meters in the Albanian
segment. Each of these three countries is fully supportive of this
project and has signed an Interministerial Protocol to confirm its
backing.
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