INEOS plans to spend 500 million modernising one of the UK's most important oil pipelines.
Work on The Forties Pipeline System, which can carry up to 600,000 barrels of crude oil from the North Sea to the mainland every day, will prolong its life by over 20 years.
“Operators in the North Sea oil and gas business are telling us that they are going to be in the North Sea well into the 2040s so we are making the commitment to be there with them,” said Andrew Gardner, CEO of INEOS FPS.
INEOS’ decision to extend the life of the 43-year-old pipeline, which transports 40% of the UK’s oil and gas to the mainland, will be welcomed by operators in the North Sea.
“We plan to modernise the environmental systems and implement the latest technology into its systems,” said Andrew. “And we are confident we can do it without disruption to the pipeline.”