October 19, 2009 / 2:13 PM / in 9 years

UPDATE 1-Russia to supply oil to Samsun-Ceyhan pipeline

* Russia to provide oil for Samsun-Ceyhan

* Rosneft, Transneft in project, others interested

* Oil from Black Sea, Caspian to feed project

(Adds details, background, share price)

By Stephen Jewkes

MILAN, Oct 19 (Reuters) - Russia is ready to provide oil from the Black Sea and Caspian areas to feed the Samsun-Ceyhan pipeline linking Turkey’s Black Sea and Mediterranean coasts, Russian Deputy Prime Minister Igor Sechin said on Monday.

Italy’s Eni (ENI.MI) and Turkey’s Calik hold 50 percent each of the pipeline project. Italy, Russia and Turkey signed an accord in Milan to build the pipeline.

The 550-km (340-mile) pipeline will have a maximum transport capacity of 1.5 million barrels a day.

“Russian oil company Rosneft (ROSN.MM) will be in the project with its own oil fields. We are supposed to provide new oil fields in the Black Sea and the Caspian area,” Sechin told reporters on the sidelines of the pact’s signing.

At the ceremony, a Memorandum of Understanding was also signed between Eni, Calik, and Russia’s JSC Transneft (TRNF_p.MM) and Rosneft with a view to bringing the Russian companies on board.

Sechin said other companies, like Russia’s Lukoil (LKOH.MM), were interested in the pipeline, adding third countries were also being talked to.

The question of the Russian companies buying equity stakes in the pipeline would be addressed later, he said.

Eni Chief Executive Paolo Scaroni said oil from the group’s Kashagan and Karachaganak fields in Kazakhstan could also be used.

“Caspian oil is around 2.4 million barrels per day. In the next 10 years oil from the Caspian area will grow by another 2 million barrels per day,” he said.

“Then there is the Black Sea (oil) and that will increase too,” he said.

Eni will play a leading role in the pipeline’s construction.

Shares in Eni were up 1.17 percent at 18.21 euros at 1328 GMT, in line with the DJ Stoxx oil and gas gauge .SXEP.

Reporting by Stephen Jewkes

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