The pipeline was initially designed to supply Caspian oil to Northern Europe, but has instead been used "in reverse mode" since 2004 to transport Russian oil south to the Mediterranean basin.
"We propose that the EU help attract leading European companies and financial institutions to the project," Ukrainian President Viktor Yushchenko said in Helsinki, at the 10th Ukraine-EU summit.
Ukraine is a major transit country for oil exported to European markets, mainly by Russia. The country wants to improve its position as a transit nation and reduce its energy dependence on Russia.
The president said Ukraine is ready to confirm its commitments to guarantee reliable energy deliveries to Europe on an international level.
"The integration of the Ukrainian energy system into the European network is in line with Ukraine's course toward accession to the EU," the head of state said.
Yushchenko said Kiev was poised for talks on oil deliveries to Europe, and was ready to attract such oil-rich Caspian states as Azerbaijan and Kazakhstan. He added that financial issues still needed to be coordinated to complete the project.
