BP in Talks with Ineos to Sell Forties Pipeline System in UK North Sea
March 17 2017 - 10:14AM
Dow Jones News
By Ian Walker
LONDON--Oil major BP PLC (BP.LN) confirmed Friday it is in talks
with Ineos over the potential sale of its Forties pipeline system
in the U.K. North sea.
It didn't provide any indication of the price, but said further
information will be given as commercial confidentialities allow,
and if any deal is agreed.
The Forties pipeline system is a 100% BP-owned integrated oil
and gas liquid transportation and processing system, with a
capacity of more than one million barrels per day, serving the
central area of the North Sea. Oil and gas liquids from over 50
offshore fields and St Fergus in Aberdeenshire, Scotland, flow
through pipelines into the system.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
March 17, 2017 09:59 ET (13:59 GMT)
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