BP has sold it’s Forties Pipeline System (FPS) to petrochemical giant Ineos for $250million.
The 36inch pipeline is fed by around fifty North Sea assets either directly or through intermediary hubs.
It accounts for the transportation of around 30% of the UK’s North Sea oil.
Until now it was owned and operated by supermajor BP, who retained the asset after selling the Forties oilfield to Apache Corp. in 2003.
FPS consists of a 36-inch (910 mm) pipeline originating at Apache Corp.’s Forties Charlie platform. The pipeline carries crude oil 105 miles through the Forties Unity riser platform, to the terminal at Cruden Bay in Aberdeenshire.
From there, unstabilised crude is carried to the processing facility at Kinneil, Grangemouth.
The hydrocarbons are processed at the Kinneil refinery – delivering the Forties Blend crude oil at Hound Point and either Raw Gas or fractionated Gas Products at Grangemouth.
The original pipeline was subject to a £1billion investment back in the early 90s which increased its diameter as well as introducing additional infrastructure.
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