British Petroleum receives stake in Baku-Tbilisi Geyhan Co.

British Petroleum Plc. received a 38.21-percent stake inBaku-Tbilisi-Ceyhan Co. that operates the construction of theBaku-Tbilisi-Ceyhan oil pipeline, the press service of British Petroleum inAzerbaijan reported. As of now, the structure of Baku-Tbilisi-Ceyhan Co. isthe following: British Petroleum (38.21 percent), the Azerbaijani State OilCompany (25 percent), Statoil (9.58 percent), Unocal (8.9 percent), TPAO(7.55 percent), ENI (5 percent), Itochu (3.4 percent) and Amerada Hess(2.36 percent). In addition, TotalFinaElf has received the right topurchase a 5-percent stake in the project. This deal will be concluded inthe near future. .

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