BP has entered into a discussions with Ineos regarding a potential sale of the Forties Pipeline System (FPS).
The FPS system comprises an approximately 100 mile offshore pipeline from the unmanned offshore Forties Unity platform to the onshore terminal at Cruden Bay.
The second part of the system is an onshore pipeline which transports the oil to the Kinneil facilities, adjacent to the Grangemouth refinery and chemical plant.
BP confirmed that the discussions are ongoing without giving further details due to commercial confidentiality.
“We remain committed to communicating openly with staff and our stakeholders as soon as we are able, and as commercial confidentiality allows, if any deal is confirmed or agreed,” BP’s spokesperson said.
The pipeline’s average daily throughput is c. 450,000 barrels oil, which makes up about 40% of UK production.
Approximately 300 BP staff are currently associated with operating and supporting the FPS business.