BP in talks to sell Forties pipeline to Ineos

UK oil major BP is in talks with chemicals company Ineos for the sale of its Forties pipeline in the UK sector of the North Sea. 

The Forties Pipeline System (FPS) is 100%-owned by BP. It is an integrated oil and gas liquid transportation and processing system with a nominal capacity in excess of one million barrels per day serving the central area of the North Sea. Oil and gas liquids from over 50 offshore fields and St Fergus flow through pipelines into FPS.

The Financial Times reported on Thursday that BP was in discussions with the chemicals group to buy what the newspaper called one of the most strategically important pieces of infrastructure in the North Sea, the FPS.

Forties is made up of about 100 miles of pipeline that transports about 450,000 barrels of oil per day on average, which is about 40% of UK production.

Approximately 300 BP staff are currently associated with operating and supporting the FPS business.

Offshore Energy Today reached out to BP seeking confirmation of these reports and further details about the company’s plans for the pipeline.

In an e-mailed response, a spokesperson for BP said: “BP can confirm it is in discussions with INEOS regarding a potential sale of the Forties Pipeline System. We remain committed to communicating openly with staff and our stakeholders as soon as we are able, and as commercial confidentialities allow, if any deal is confirmed or agreed.”

Earlier this year BP agreed to sell portions of its interests in the Magnus oil field and some associated pipeline infrastructure in the UK northern North Sea and in the Sullom Voe Terminal (SVT) on Shetland to EnQuest.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Mar 2017 >>
MTWTFSS
27 28 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Future Conference: Wind & Maritime

The sixth Future Conference: Wind & Maritime – the conference in north-eastern Germany that connects wind wnergy with maritime industry…

read more >

Ocean Business 2017

Ocean Business 2015 was phenomenally successful, with visitor numbers up an incredible 29%. The overall attendance was a staggering 4,589…

read more >

23rd Annual BBSPA Conference

The Conference has established itself as a platform that brings together high-level professionals from regional and international oil…

read more >

06th OIL & GAS KENYA 2017

The 06th Oil & Gas Africa – Int’l Trade Exhibition, 11 – 13 April, 2017, is a hub for key players in the oil and gas community…

read more >

Jobs>

QC Coordinator Offshore

Do you attach great importance to quality and do you have an affinity with offshore projects? Then read about what Van Oord can offer you.

apply

Assistant Driller

Maersk Drilling Norge AS was established in 1990 and employs a staff of approximately 1000 people.

apply

Electrician

For one of our clients we are looking for a Ships Electrician. Our client is a company with worldwide activities. You will work in a rotation of 4 till 6 weeks on and off.

apply