Nigg jetty to be transferred to Global Energy Group
Posted 10, Oct 19
Repsol Sinopec has reached agreement with Global Energy Group for them to take over the long-term operation of the Nigg Oil Terminal jetty under a new lease with Crown Estates Scotland.
Since cessation of production from the Beatrice oil field, Repsol Sinopec has been exploring reuse options for the facilities at Nigg Oil Terminal, including the jetty.
Repsol Sinopec will continue to operate the main oil terminal and to work towards final decommissioning of its facilities. Global Energy Group will become responsible for all decommissioning liabilities associated with the jetty.
Nicolas Foucart, Chief Operating Officer, Repsol Sinopec said: "This is a clear example of a win-win situation: the transfer of the jetty will improve local industry capabilities to support emerging opportunities in the area, while Repsol Sinopec can focus its efforts on safely and efficiently decommissioning the terminal by reducing our operational footprint. We are pleased to have been able to reach this agreement and to know that it will help to sustain employment in the area for years to come."
Roy MacGregor OBE, Global Energy Group’s Chairman, said: “I am delighted that we have reached this agreement with Repsol Sinopec. The Nigg Jetty is a valuable addition to our facilities. It not only increases our deep-water quayside capacity but enables us to consider bringing new business lines to the Port, creating further employment for the area.”
Subject to regulatory and other approvals, the transfer is expected to be completed by the end of 2019.