INEOS is postponing the shutdown of the Forties oil pipeline which transports to shore around 40% of the UK’s oil and gas from the North Sea.
Ineos says the decision has been taken following an “overwhelming desire” by its customers to delay the project and the need to avoid bringing people together during the coronavirus pandemic. The shutdown for maintenance had been due to occur in June but will now occur in August at the earliest.
The company says it is mindful of the benefits of completing the work when it comes to the future operation of the pipeline, however it also recognises the importance of maintaining a flow of oil and gas.
Ineos bought the 500 km pipeline system from BP in 2017 as part of a US$250m deal. Last year it committed to modernise the system as part of a £1bn (US$1.2bn) investment in the UK.
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