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BTC РЎРѕ and BotaЕџ will jointly manage the Turkish sector of BTC

Politics Materials 6 June 2006 20:31
BTC РЎРѕ and BotaЕџ will jointly manage the Turkish sector of BTC

The BTC Co. Company and the Turkish company BotaЕџ agreed the key principles of the joint activity over the exploitation of Baku-Tbilisi-Ceyhan pipeline (BTC), Vagif Aliyev, the head of the foreign investments department of the State Oil Company of Azerbaijan Republic (SOCAR), informed. The primary principle is the joint management in the territory of Turkey.

Earlier it was considered that the management of the pipeline in the territory of Turkey would be carried out only by Turkey. However, in accordance with the agreement reached between the sides, the management of the pipeline in the first three years will be realized jointly.

Shareholders to BTC Co. are: BP (30,1%); AzBTC (25,00%); Chevron (8,90%); Statoil (8,71%); TPAO (6,53%); Eni (5,00%); Total (5,00%), Itochu (3,40%); INPEX (2,50%), ConocoPhilips (2,50%) and AmeradaHess (2,36%).

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