UK's BP to transfer BTC pipeline operations to Azerbaijan's SOCAR by July 1

en.Wedoany.com Reported - BP will transfer the operation of the Baku-Tbilisi-Ceyhan (BTC) export oil pipeline to Azerbaijan's state oil company SOCAR by July 1. Joe Christofoli, BP's regional president for Azerbaijan, Georgia, and Turkey, confirmed at a press conference that the handover is proceeding as planned and is expected to be completed before the contractual obligation deadline of July 1. He noted that SOCAR has sufficient capability and experience to manage the pipeline, and that this transfer merely fulfills the pipeline contract signed a decade ago, not indicating BP's withdrawal from the asset.

The BTC pipeline, with an annual capacity of 50 million tons, began operations in 2006 and spans over 1,700 kilometers. It primarily transports crude oil from the Azeri-Chirag-Gunashli contract field on the Caspian shelf to the Turkish port of Ceyhan, and is also used to carry oil from Turkmenistan and Kazakhstan. Additionally, the construction contract for the Baku-Supsa oil pipeline was signed in 1994, and the pipeline began operations in 1999.

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