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.
