Victrex plc, a UK-based, global high-performance polymer solutions provider, continues to strengthen its relationship with oil and gas systems developer Magma Global Ltd. by investing in a minority interest in the latter.
The investment comes after the collaboration between the two companies to develop the Magma carbon composite m-pipe using Victrex PEEK, a high-performance thermoplastic material. It will further facilitate the adoption of the m-pipe for subsea applications. The investment is also in line with Victrex´s strategy to create future value through innovation and further differentiation into selected semi-finished and finished products, in addition to supplying the core high performance polymer.
Increasingly stringent demands for oil and gas operations at greater depths, with sour service demands, and under higher pressures and temperatures, have made a metal replacement for subsea piping an urgent priority for the oil and gas industry. The innovative m-pipe technology is expected to reduce exploration and production costs and risks for demanding subsea applications.
“The Oil & Gas market remains challenging, but the application of m-pipe in areas where it can deliver cost savings for operators, through simpler design, easier deployment and in whole life costs, means it should be the technology of choice for demanding subsea applications,” said Martin Jones, CEO at Magma.
Continued progress of the company last year also included the launch of a leading rental system for hydraulic pumping for intervention, early production and temporary riser replacement, consisting of m-pipe with an Integrated Deployment Package and crew.
Victrex and Magma are also joining Smithers Rapra in hosting a free webinar concerning the use of Victrex´s polymer in the construction of thermoplastic composite pipes (TCPs) for subsea environments.
In particular, the webinar will outline the technical advancements now made possible by the Victrex PEEK-based m-pipe from Magma, including the engineering, performance and commercial benefits. The free webinar will focus on SURF, subsea jumpers and subsea connectivity. The qualification process for m-pipe will be described, as well as the outstanding properties of PEEK polymer which, together, make it an excellent fit for subsea applications.
Dr. David Charlesworth, Head of Engineering at Magma Global, and Dr. Geoff Small, Energy Market Technology Manager atVictrex, will be speaking at the webinar titled “The Durability of PEEK Polymers in Thermoplastic Composite Pipes for Subsea Oil & Gas Environments”.
They will talk about the specific and unique demands of oil & gas transportation systems on polymers and composites, and how Victrex PEEK polymer meets these challenges; the qualification process for the Victrex PEEK-based m-pipe; and the engineering, performance, risk and cost reduction opportunities through using m-pipe.