BAKU, Azerbaijan, June 2. SOCAR will operate
Baku-Tbilisi-Ceyhan (BTC) pipeline from July 1, 2026, bp's Regional
President for Azerbaijan, Georgia, and Türkiye, Gio Cristofoli,
told reporters on the sidelinesof the Baku Energy Forum, Trend reports.
He said that the process of transferring the operatorship of the
BTC pipeline to SOCAR is continuing according to schedule.
According to him, short-term changes in oil prices don't affect
the company's investment decisions.
“As part of a disciplined approach to capital allocation, we do
not react to sudden changes in oil prices. Our investment decisions
are made based on the price environment determined at the beginning
of the year. Our goal is to maintain a stable capital framework
throughout the year,” he said.
He also shared details on BTC's operation by SOCAR.
“The contractual obligation execution date for this process is
July 1, and we are acting in full accordance with that date. This
is not bp’s exit from the asset, but the fulfillment of the
contractual obligation. Extensive preparatory work has been carried
out for SOCAR’s activities as an operator. The company has the
necessary experience and capabilities to successfully manage the
pipeline,” he emphasized.
He added that the process related to the Baku-Tbilisi-Erzurum
oil pipeline is still ongoing, and work is being done in this
direction.
