An international consortium presented the Odesa-Brody-Plock oil pipeline project in Poland.

The project stipulates the construction of Brody-Orzechowo oil pipeline with the further use of the existing stretch of the Orzechowo - Plock pipeline and increasing the capacity of the Odessa-Brody leg. The period of planned construction is 18 months. A consortium consisting of three European companies SWEGO PIC (Finland), ILF GmbH (Germany) and KANTOR (Greece) will be extending the Odessa-Brody oil pipeline to the Polish city of Plock (pronounced Plotsk).

In the opinion of Polish experts in the oil industry, the cost of construction of the Brody-Plock stretch could amount to 500 mn euro and the terms of design and research and construction work will last three to four years provided that conditions are favorable.

During the discussion of the business plan, the participants of the meeting admitted that the project is competitive and economically efficient for suppliers and consumers of oil. The project ensures a level of profitability in the first year of operation that is attractive for investors and will grow proportional to the increase in volumes of oil transportation. Representative of the Directorate General on Energy and Transport issues of the European Commission Faousi Bensara stated that Europe expects the oil pipeline to begin operation in 2009.

March 22,2006