Ineos this morning confirmed it has acquired the Forties Pipeline System (FPS) from BP in a $250 million deal, which includes 300 jobs.
The deal makes Ineos responsible for a strategic UK asset that delivers almost 40% of the UK’s North Sea oil and gas.
Jim Ratcliffe chairman and founder of Ineos said: “This is another very significant deal for Ineos. The acquisition reunites North Sea and Grangemouth assets under Ineos ownership. Ineos is now the only UK company with refinery and petrochemical assets directly integrated into the North Sea.”