Baku-Tbilisi-Ceyhan (BTC) pipeline has so far transported a total of 32 million tons of Turkmen oil to world markets, the President of the State Oil Company of Azerbaijan (SOCAR) Rovshan Najaf said during his speech at the 27th Oil and Gas of Turkmenistan International Conference (OGT-2022) on Wednesday.
Rovshan Najaf informed of SOCAR's multifaceted activities in the oil and gas sector, as well as its opportunities in the Caspian basin, and long-term strategic goals.
He emphasized that the Memorandum of Understanding on joint exploration and development of Dostluk hydrocarbon field in the Caspian Sea opens up new opportunities for both countries for mutually beneficial cooperation in the oil and gas sector.
The SOCAR President also noted that the Southern Gas Corridor – the initiative of the European Commission for a natural gas supply route from Caspian and Middle Eastern regions to Europe – is of great importance not only for Azerbaijan but also for the regional countries.
The length of BTC pipeline is 1.768 km, including 443 km in Azerbaijan, 249 km in Georgia and 1.076 km in Turkey. Its throughput capacity exceeds 50 million tons of oil per year.
The shareholders of the BTC are BP (30.1%), SOCAR (25%); MOL (8.9%) Equinor (8.71%), TPAO (6.53%), ENI (5%), Itochu (3.4%), ExxonMobil (2.5%), INPEX (2.5%), TotalEnergies (5%) and ONGC (2.36%) companies.