BP to Transfer Operational Control of BTC Pipeline to SOCAR

SEATTLE (Oil Monster): British energy giant BP said that it will transfer operational control of the strategic Baku-Tbilisi-Ceyhan (BTC) oil pipeline to Azerbaijan’s state-owned energy company SOCAR with effect from July 1, 2026. The move is part of a long-standing contractual commitment between the two companies.

The transfer of control represents a major shift in the operation of the 1,768-kilometer pipeline, which has been playing a crucial role in regional and global energy security since 2006. It has the capacity to transport more than one million barrels of crude oil per day from the Caspian Sea to the Mediterranean port of Ceyhan in Turkey.

Commenting on the development, Giovanni Cristofoli, BP’s regional president for Azerbaijan, Georgia and Turkey, noted that the transfer does not indicate BP’s departure from the region.

The company remains committed to its partnership with SOCAR, despite transferring the operational control to the Azerbaijani energy major. BP will retain its 30.1% ownership stake in the BTC consortium. It must be noted that, SOCAR, through its AzBTC subsidiary, remains the largest shareholder with a 32.97% stake.

The transaction underlines SOCAR’s growing expertise in managing large-scale energy infrastructure, said market experts.

YOU MAY ALSO BE INTERESTED IN:

Azeri BTC Oil Loadings at Ceyhan Restart After Contamination Concerns

BTC Pipeline Reached New Milestone in Crude Oil Transportation