The U.S. energy company ExxonMobil became a shareholder in the Baku-Tbilisi-Ceyhan (BTC) pipeline project, according to BP's latest report late on Friday.
BP published its activity report for Azerbaijan on Feb. 16, and despite ExxonMobil's lack of official announcement, the report revealed a change in the shareholders in the BTC project.
The BTC pipeline, built by the Baku-Tbilisi-Ceyhan pipeline company, BTC Company, became operational in June 2006.
Previously, the company’s main shareholders were BP at 30.1 percent, SOCAR with 25 percent, Chevron with 8.9 percent, Statoil at 8.71 percent and TP with 6.53 percent.
In addition, Eni took up a small shareholding with 5 percent, Total with 5 percent, Itochu had 3.4 percent, Inpex held 2.5 percent, CIECO also had 2.5 percent and ONGC owned 2.36 percent.
However, in BP Azerbaijan's new list, ExxonMobil replaced CIECO, a subsidiary of Itochu, and is now listed with a 2.5 percent interest.
The BTC pipeline is 1,768 kilometers in length. While BP operates the Azerbaijani and Georgian sections of the pipeline, Turkey’s Petroleum Pipeline Corporation BOTAS’ International Limited Company operates the Turkish section.
The pipeline has a capacity to carry 1.2 million barrels of oil per day. In addition to Azeri crude, the pipeline also carries oil from Turkmenistan and Kazakhstan to Turkey's Ceyhan port where oil is exported via tankers to the global market.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr