American ExxonMobil becomes shareholder of BTC oil pipe

American ExxonMobil becomes shareholder of BTC oil pipe

American oil company ExxonMobil became a shareholder of BTC Co., which manages the Baku-Tbilisi-Ceyhan oil pipeline, reads BP's report on the results of activities in Azerbaijan in 2017, AzerNews reports.

ExxonMobil acquired 2.5 percent of BTC shares from CIECO.

The report reads that the transaction has already taken place.

BTC Co. shareholders are: BP (30.1 percent), AzBTC (25 percent), Chevron (8.9 percent), Statoil (8.71 percent), ТРАО (6.53 percent), Eni (5 percent), Total (5 percent), Itochu (3.4 percent), Inpex (2.5 percent), ExxonMobil (2.5 percent) and ONGC (2.36 percent).

The total length of the BТС is 1,768 kilometers, including a 443 kilometer-long section running through Azerbaijan, a 249-kilometer long section in Georgia and a 1,076-kilometer long section in Turkey. The construction of the pipeline started in 2003. It was filled with oil in 2005.

The pumping capacity of the pipeline is 1.2 million barrels per day.

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