Company News
INEOS Closes Forties Pipeline System
Monday 18th December 2017
Ravid
The Forties pipeline system run by Ineos, which delivers approximately one-third of the UK's oil in the North Sea, has been shutdown to allow the firm to carry out repair works on what it describes as "a hairline crack" in the pipeline.
INEOS revealed that it had discovered the crack during a routine inspection on 6 December, when a small amount of oil seepage was noticed. Despite reducing the pressure in the pipeline, the crack extended and the company decided to close the pipeline to carry out repairs on 11 December.
In a statement released the following day, the firm revealed that various repair options are "being considered and progressed", although acknowledged that the pipeline is expected to be shut down for weeks rather than days.
Oil & Gas UK chief executive Deirdre Michie issued a statement saying that closing this pipeline "does cause significant issues for our industry, financially, operationally and commercially".
She added: "40 per cent of oil production is now shut in and the resulting lost production is worth around £20 million per day at current oil prices to industry."
INEOS has stated that "safety remains our highest priority", explaining that local residents near the damaged section of pipeline are being kept informed of the situation, as are customers that rely on the pipeline and all other stakeholders.
If you are involved in projects in the oil and gas industry and require the best double block and bleed valves on the market, come to Hy Lok UK to find the high-quality parts you need.
