Apr 3, 2017
BP sells Forties North Sea pipeline to Ineos
The system links 85 North Sea Oil and Gas assets to the UK mainland, and to the Ineos site in Grangemouth. Sites at Aberdeen, the Kinneil terminal and gas processing plant, the Dalmeny terminal and the Forties Unity Platform will all transfer to Ineos as part of the deal. "Ineos chairman and founder Jim Ratcliffe said:"The North Sea continues to present new opportunities for Ineos. "The Forties Pipeline System is a UK strategic asset and was originally designed to work together to feed the Grangemouth refinery and petrochemical facilities." BP chief executive Bob Dudley said: "While the Forties pipeline had great significance in BP's history, our business here is now centred around our major offshore interests west of Shetland and in the Central North Sea.".
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