TechnipFMC acquires remaining stake in compound

Energy industry services company TechnipFMC has completed the acquisition of the remaining stake in Magma Global, a provider of composite pipe technology.

TechnipFMC originally acquired a stake in Magma in 2018, combining its coiled tubing technology with Magma’s composite capabilities to develop what it calls a “disruptive” composite tubing solution for both traditional and new energy industries.

“Magma technology enables the fabrication of thermoplastic composite (TCP) tubing using Polyether Ether Ketone (PEEK) polymer, which is highly resistant to corrosive compounds, such as CO2. When combined with TechnipFMC’s flexible tubing technology, it forms a hybrid flexible tube (HFP).) to be deployed in the Brazilian pre-salt fields, “said TechnipFMC.

“Manufactured by a fully automated robotic system, PEEK TCP will also be a critical enabler for the carbon capture, utilization and storage (CCUS) and hydrogen transport markets, and particularly in offshore applications,” the company explained.

Jonathan Landes, President of Subsea at TechnipFMC, said: “Magma and TechnipFMC bring together decades of combined knowledge on the development and installation of flexible and composite piping. Combining TechnipFMC’s expertise in delivering complex integrated Engineering, Procurement, Construction and Installation (iEPCI ™) projects offshore with Magma’s leadership position in composite technologies confirms our commitment to solving the industry’s greatest challenges. , while maintaining our commitments to sustainability ”.

Justin rounce, Executive Vice President and Chief Technology Officer of TechnipFMC, added: “This technology will also be a key enabler for offshore Energy Transition developments, such as green hydrogen transport, initiated by the Deep Purple offshore power system of TechnipFMC, and CO2 transport using an integrated carbon transport and storage solution. “

Martin jones, CEO of Magma, said: “Joining TechnipFMC is the natural step in our journey to maximize the commercialization of our technology. We are immensely proud of the PEEK TCP technology and the advanced manufacturing system that we have developed. Working together with TechnipFMC, we hope to offer innovative and disruptive solutions for both subsea risers as well as flow lines and CCUS applications. ”

Earlier this year, Magma delivered what it said was the world’s first high-pressure composite riser to HWCG’s storage location on the US Gulf Coast, completing its offset coiled riser system ( OFR) of rapid implementation.

HWCG, a consortium of deepwater oil and gas companies in the Gulf of Mexico formed following the Macondo explosion incident in 2010 with the goal of responding quickly to offshore oil spills, commissioned Magma Global to rate and produce a high-pressure, high-temperature pipeline to be used as a flexible riser connection to enhance HWCG’s rapid deployment emergency well containment system.

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