TechnipFMC Completes Acquisition of Magma Global

Source: www.gulfoilandgas.com 10/13/2021, Location: North America

TechnipFMC has completed the acquisition of the outstanding shares of Magma Global (Magma), the leading provider of composite pipe technology to support the Energy Transition.

TechnipFMC originally acquired an interest in Magma in 2018, combining its strong history in flexible pipe technology with Magma’s advanced composite capabilities to develop a disruptive composite pipe solution for the traditional and new energy industries.

Magma technology enables the manufacture of Thermoplastic Composite Pipe (TCP) using Polyether Ether Ketone (PEEK) polymer, which is highly resistant to corrosive compounds, such as CO2. When combined with TechnipFMC’s flexible pipe technology, this forms a Hybrid Flexible Pipe (HFP) that will be deployed in the Brazilian pre-salt fields.

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

Jonathan Landes, President, Subsea at TechnipFMC, commented: “Magma and TechnipFMC bring together decades of combined knowledge regarding the development and installation of composite and flexible pipe. The combination of TechnipFMC’s experience delivering complex integrated Engineering, Procurement, Construction and Installation (iEPCI™) projects offshore with Magma’s leading position in composite technologies confirms our commitment to solving the industry’s greatest challenges, while upholding our commitments to sustainability.”

Justin Rounce, Executive Vice President and Chief Technology Officer at TechnipFMC, added: “This technology will also be a key enabler for offshore Energy Transition developments, such as transportation of green hydrogen, as pioneered by TechnipFMC’s Deep Purple™ offshore energy system, and transportation of CO2 utilizing an integrated carbon transportation and storage solution.”

Martin Jones, CEO at Magma, said: “Joining TechnipFMC is the natural step on our journey to maximize the commercialization of our technology. We are immensely proud of the PEEK TCP technology and advanced manufacturing system we have developed. Working together with TechnipFMC, we look forward to delivering innovative and disruptive solutions for both subsea risers and flowlines and CCUS applications.”


Canada >>  8/15/2022 - Pembina Pipeline Corporation ("Pembina" or the "Company") is pleased to announce that it has completed its previously announced joint venture transact...
United States >>  8/15/2022 - VAALCO Energy, Inc., a Delaware corporation ("VAALCO"), announced that its Board of Directors has set the record date for a special meeting of its sto...

United States >>  8/15/2022 - Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client PGH Petro...
Australia >>  8/11/2022 - Santos has acquired Hunter Gas Pipeline Pty Ltd which owns an approved underground gas pipeline route from Wallumbilla in Queensland to Newcastle in N...

Nigeria >>  8/11/2022 - Seplat Energy has become aware of a news report that Ministerial Approval of the Company's proposed acquisition of the entire share capital of Mobil P...
United States >>  8/11/2022 - Kinder Morgan, Inc. has closed on the acquisition of North American Natural Resources, Inc. (NANR) and its sister companies, North American Biofuels, ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.