INEOS to invest £1 Billion in UK

Posted On March 19th, 2019 - 4:42 pm | by Oil and gas press

INEOS is to invest £1 billion in the UK in multiple projects designed to ensure its British assets stay world class for a generation.

The biggest investment being announced is in the Forties Pipeline System (FPS). This £500 million investment will transform the asset and extend the life of the pipeline by at least twenty years, into the 2040s.

INEOS intends to overhaul the reliability of the 500km pipeline system, including modernising the environmental systems and implementing the latest technology into its systems. This investment will rejuvenate FPS, delivering a long-term asset that meets the needs of North Sea oil and gas producers.

Opened in 1975, FPS is a strategic UK asset that can transport up to 600,000 barrels of North Sea oil onshore for refining every day. The pipeline transports 40% of the UK’s Oil & Gas to the mainland.

Source / More : INEOS

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