Operis were pleased to provide a formal model audit including a tax and accounting review for the refinancing of the Forties Pipelines System for INEOS.
In 2017, INEOS completed its acquisition of the Forties Pipeline System and associated pipelines and facilities from BP. The pipeline system links over 80 North Sea oil and gas assets to the UK mainland and the INEOS site in Grangemouth, Scotland, delivering almost 40% of the UK’s North Sea oil and gas production. Significant investment in the system will prolong the life of the pipeline system by at least 20 years, supporting the North Sea production into the 2040s. This will allow the pipeline system to transport up to 600,000 barrels of North Sea oil onshore for refining every day.
We have worked with INEOS previously on projects such as the initial acquisition of the Forties Pipeline System as well as the acquisition of 15 oil and gas producing assets for INEOS Upstream in 2017.