The 550-km Samsun-Ceyhan pipeline will carry up to 1.5m brl/d of crude oil, primarily from Kazakhstan, and will reduce the tanker movements through the Bosporus Straits by almost 50%. Apart from IOC, Royal Dutch Shell has also expressed an intention to take part in the project. IOC sources say that a stake in the pipeline would ensure supply of crude to the proposed refinery. “We are negotiating with ENI-Calik for a significant stake in the pipeline so as to ensure representation in the board room”, an official said. Discussions are also continuing with the Turkish authority for a refinery project. “Negotiations are in fairly advanced stages for both the projects, and decisions are expected in two months,” IOC has said, adding that the decision on the pipeline project is expected early. IOC has been exploring opportunities in the refining and pipeline sector in Turkey for last two years, and was outbid by a Shell-led consortium in the race for majority stake in the Tupras Refinery, last year.
