Offshore staff
LONDON – INEOS plans to spend £500 million ($665 million) on extending the life of the Forties Pipeline System (FPS) in the UK central North Sea into the 2040s.
The company intends to overhaul the reliability of the 500-km (310-mi) pipeline system, modernizing its environmental procedures and installing new technology.
BP originally commissioned and operated the FPS, which came online in 1975. It is designed to transport up to 600,000 b/d of oil from numerous fields in the area to mainland Scotland for refining.
According to INEOS, the system handles 40% of the UK’s oil and gas.
Oil & Gas UK’s upstream policy director Mike Tholen said: “The modernization program will provide operators with a greater degree of certainty when making investment decisions about the future development plans for their assets.”
02/28/2019
