The company intends to overhaul the reliability of the 500-km (310-mi) pipeline system, modernizing its environmental procedures and installing new technology.
BP originally commissioned and operated the FPS, which came online in 1975. It is designed to transport up to 600,000 b/d of oil from numerous fields in the area to mainland Scotland for refining.
According to INEOS, the system handles 40% of the UK’s oil and gas.
Oil & Gas UK’s upstream policy director Mike Tholen said: “The modernization program will provide operators with a greater degree of certainty when making investment decisions about the future development plans for their assets.”