British firm INEOS has postponed the closure of its Forties Pipeline System (FPS), which was originally planned for June.
It will now be closed in spring next year due to the outbreak of the novel coronavirus (Covid-19).
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The latest move comes in the wake of the ongoing restrictions imposed by the government to contain the spread of the coronavirus pandemic.
INEOS said that it had taken the decision in the interests of providing clarity to its customers on their requests and also to the UK oil and gas industry.
INEOS said in a press statement: “INEOS will continue to work with customers and all relevant parties to prepare for the shutdown in 2021.
“INEOS found that there was a desire to delay the shutdown to 2021 by the majority of its customers which it is responding to. In making this announcement it is hoped that customers (and the supply chain) will now be able to plan with greater certainty.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataForties is one of the biggest and most important oil and gas pipelines in the UK. It pumps about 450,000 barrels of oil per day (bopd).
In December 2017, the company announced it would shut down the Forties Pipeline System after it developed a small hairline crack at Red Moss near Netherley, just south of Aberdeen in the UK.
Last February, INEOS urged the UK Government to discontinue its ‘unworkable’ shale rules and gas fracking or risk pushing the country into an energy crisis.
In July 2018, INEOS reportedly secured a one-year extension for its petroleum exploration and development licence (PEDL 162) in Midland Valley, UK.
