Ineos acquired one of the largest pipelines in North Sea

The Ineos Grangemouth plant (REUTERS/Russell Cheyne)

The Ineos Grangemouth plant (REUTERS/Russell Cheyne)

Ineos has completed its acquisition of the Forties Pipeline System and associated pipelines and facilities from BP. The 378-kilometre pipeline system links 85 North Sea oil and gas assets to the UK mainland and the Ineos site in Grangemouth, Scotland, delivering almost 40% of the UK’s North Sea oil and gas production.
Ownership and operation of FPS, the Kinneil gas processing plant and oil terminal, the Dalmeny storage and export facility, sites at Aberdeen, the Forties Unity Platform and associated infrastructure has now transferred to Ineos FPS, together with approximately 300 personnel.
The deal consolidates INEOS’ position as a top ten company in the North Sea, further expanding the INEOS oil and gas business interests following the acquisitions of the Breagh and Clipper South gas fields in the Southern North Sea from Letter1 in 2015 and the Dong Oil and Gas business from DONG Energy at the end of September this year. Twenty per cent of the oil that passes down the Forties pipeline feeds the P refinery that in turn provides more than 80% of Scotland’s transport fuels.
The acquisition value has not been disclosed by Ineos.