North Sea business out nearly $30M a day on Forties pipeline outage

14 Dec 2017   United Kingdom

Closing the Forties pipeline system in the North Sea, which sidelines almost half of the area’s production, means heavy industry losses, a trade group said. Pipeline operator Ineos shut down the Forties crude network in the North Sea after discovering a “hairline crack” on a pipe near Aberdeen, Scotland, last week. The system carries about 40 percent of the oil produced in the British waters of the North Sea, or about 450,000 barrels of oil per day. The company said it could be a matter of weeks before repairs are made to the North Sea network. Deirdre Michie, the chief executive at trade group Oil & Gas U.K., said the outage […]

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