Magma Signs Development Agreement with BP, Subsea 7

Magma Global announced Monday that it has signed a joint development agreement with BP and Subsea 7, which will target the company’s six to twelve inch m-pipes for risers and jumper systems for deepwater environments.

The development program, which is supported by the National Composites Center and Innovate UK, will run for 30 months and include a laminate, single load and combined load testing schedule. Magma's m-pipe is a carbon fiber and polymer composite pipe, made using a fully automated 3D printing process, which is one tenth of the weight of steel, according to the company.

Charles Tavner, commercial director at Magma Global, commented in a company statement:

“Magma Global are delighted that BP and Subsea 7 have chosen to collaborate in the qualification and deployment of Magma’s m-pipe technology. This programme is a brilliant example of how government, a major oil company, a major SURF contractor and a technology supplier can work together to deliver significant reductions in risk and cost for offshore field development.”

EnQuest was the first company to deploy the m-pipe, which is roughly five years old, and Magma has stated that it is currently talking to companies such as Total, Statoil, BP and Shell about the potential installation of carbon full riser systems.

An independent report by specialist energy sector strategic advisory firm Calash, which analyzed the cost difference between steel and m-pipe riser systems, showed that the overall typical total project field development cost of an m-pipe riser would be 11 percent cheaper than a traditional steel riser system that costs $2.5 billion, even though the cost of materials for the m-pipe is slightly more expensive.

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com

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