British energy major BP has officially transferred the operatorship of the Baku-Tbilisi-Ceyhan (BTC) oil export pipeline to Azerbaijan’s state oil firm SOCAR, the joint venture company BTC Co announced on July 1.

The strategic transition, effective July 1, marks a major shift in the management of one of the world's most complex energy corridors. Under the agreement, SOCAR subsidiary SOCAR Midstream Operations LLC (SMO) takes over operatorship of all three transit sections of the 1,768-kilometer (1,099-mile) pipeline traversing Azerbaijan, Georgia, and Türkiye, News.Az reports, citing BP.

In addition to the BTC line, SMO will assume management of common activities shared between BTC and the parallel South Caucasus natural gas pipeline (SCP) system. SOCAR has already been serving as the technical operator of the SCP line since 2021.

Importantly for the consortium, bp’s operational exit from the pipeline infrastructure does not alter the project's commercial structure.

"The shareholding structure of BTC Co. remains unchanged," the company said in a statement. BP remains the largest stakeholder in the venture with a 30.1% share, while SOCAR holds 25%. Other major partners include TPAO, Chevron, Equinor, and ExxonMobil.

The handover excludes the massive Sangachal terminal land complex near Baku. Operatorship of the terminal—which processes crude and gas from the mega offshore Azeri-Chirag-Gunashli (ACG) and Shah Deniz fields—will remain under bp control. Bp also remains the operator of those primary Caspian upstream production fields.

"This transition is in line with the relevant agreements underpinning the BTC project," said Gio Cristofoli, bp’s regional president for the Caspian, Central Asia, and Türkiye, adding that the company looks forward to its continuing role as a major shareholder.

The BTC pipeline is a critical geopolitical asset for Western markets, bypassing both Russia and Iran to deliver Caspian crude directly to the Turkish Mediterranean port of Ceyhan. It has a throughput capacity of 1 million barrels of oil per day and has transported more than 4.7 billion barrels of crude on 6,271 tankers since it became operational in 2006.

The transition follows a separate regional handover on June 8, when bp returned the facilities of the smaller Western Route Export Pipeline (WREP), which runs from Baku to Supsa in Georgia, to the respective state entities of Azerbaijan and Georgia.

SOCAR President Rovshan Najaf said the milestone "reflects the company’s growing expertise in managing world-class energy infrastructure," adding that the state firm remains fully committed to maintaining the safe and uninterrupted flow of the strategic corridor.

News.Az is a bne IntelliNews media partner. This article first appeared here.