Ramco sells interest in BTC

Scottish Ramco has sent its 1.55% interest stake in the Baku-Tbilisi-Ceyhan MEP project along with its 2.0825% equity stake in the Contract of the Century. Informing journalists of this, the AIOC president David Woodward said both of the stakes have been taken over by the Unocal-Devon Energy-Delta Hess alliance.

The Ramco Baku office has declined to provide any comment.

Interest stakes in the BTC are as follows: SOCAR 50%, BP 25.41%, Unocal 7.65%, Statoil 6.37%, TPAO 5.02%, Itochu 2.92%, Delta Hess 2.03%, and Devon Energy 0.6%.

Having sold its interest stake in the BTC, Ramco is no longer involved in any contracts in Azerbaijan.*