British energy major BP said on Tuesday that it is on track to hand over operational control of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline to Azerbaijan’s state energy firm SOCAR starting July 1, fulfilling a contractual obligation linked to the project.
The BTC pipeline has been in operation since 2006 and is capable of transporting more than one million barrels of crude oil per day. It is a strategically important export route that carries oil from the Caspian Sea to the Mediterranean Sea, bypassing politically sensitive transit areas including Iran and parts of Russia’s Caucasus region.
BP’s regional president for Azerbaijan, Georgia and Turkey, Giovanni Cristofoli, confirmed the transition in a statement, emphasizing that the move is not a divestment by BP but rather a scheduled operational handover under existing agreements. He also noted that BP remains supportive of SOCAR taking over as the pipeline’s operator.
The company did not provide further details on the specific contractual terms governing the transition or clarify whether its ownership stake in the pipeline would change as a result of the operational shift.
The handover highlights the gradual evolution of energy infrastructure governance in the Caspian region, where national energy companies are increasingly taking on direct operational responsibility for major export routes originally developed in partnership with international oil majors.
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