Baku: The transfer of operatorship for the Baku-Tbilisi-Ceyhan (BTC) main export oil pipeline to SOCAR is anticipated to be completed by July 1, as stated by Gio Kristofoli, bp's Regional President for Azerbaijan, Georgia, and Trkiye. This update was shared with journalists, as reported by APA-Economics.

According to Azeri-Press News Agency, Kristofoli clarified that the transfer is in line with an existing contractual obligation and does not signify bp's withdrawal from the project. "July 1 is the date specified in the contract, and we are trying to complete this process by that date. I would like to emphasize that this does not mean bp is leaving the project. It is about fulfilling a contractual obligation," Kristofoli explained.

He further emphasized bp's ongoing involvement in the BTC project, expressing support for SOCAR's forthcoming role as the operator. "We are excited about SOCAR becoming the operator. We have worked on a very comprehensive transition process in this direction. SOCAR has the necessary experience and capabilities to successfully operate the pipeline," he stated.

Kristofoli added that the work on the transition is progressing as scheduled, ensuring a smooth transfer of operatorship to SOCAR.