By Staff writer
The British-Dutch consortium Royal Dutch Shell has signed an agreement with Turkey’s Calik Energy and Italy’s ENI for the possible participation in the construction of the Samsun-Ceyhan oil pipeline.
The planned US $1.5 billion (TRY2.2 billion) pipeline, which will be 700km long, will run from the Black Sea port of Samsun to the port of Ceyhan in the Mediterranean.
It is designed to reduce the oil transportation load on the Black Sea straits of Bosporus and the Dardanelles.
The project isexpected to get underway in 2007 and will take three years to complete.