TechnipFMC has agreed to partner with Magma Global to develop a new generation of hybrid flexible pipe (HFP) for use in offshore applications.
TechnipFMC has agreed to partner with Magma Global to develop a new generation of hybrid flexible pipe (HFP) for use in offshore applications.
As part of the collaboration, TechnipFMC said it will purchase a minority stake in Magma Global.
HFP is expected to provide increased strength and fatigue performance, while also achieving dramatic weight and cost reductions, for subsea fluid transport applications.
Barry Glickman, president of Engineering, Manufacturing & Supply Chain at TechnipFMC, stated: “I am very pleased that we have reached this agreement with Magma, which will further enhance TechnipFMC’s Subsea 2.0 product platform. The lighter, higher performance, and more cost-effective HFP solution, will enable TechnipFMC to strengthen its leadership position in the flexible pipe business and address the new challenges of offshore deepwater fields.”
Martin Jones, Magma Global CEO, said: “We are delighted to be working with TechnipFMC and believe that their vision for a hybrid flexible product provides a logical step for the increased adoption of carbon composites in full field developments, paving the way towards Magma’s long-term vision of an all composite subsea infrastructure from the seabed to the surface.”
Source: Pipeline ME
