Victrex has recently invested in a minority interest in Magma, to further facilitate the adoption of its composite subsea pipes technology for oil and gas industry. The two companies strengthened their partnership after the joint development of the innovative m-pipe carbon composite technology, utilizing Victrex Peek. The m-pipe technology meets the increasingly stringent demands for operations at greater depths, with sour service demands and under higher pressures and temperatures, that make a metal replacement for subsea piping an urgent priority for the oil and gas sector.
The m-pipe solution is expected to reduce exploration and production costs, and risks for demanding subsea applications, delivering cost savings through simpler design, easier deployment and in whole life costs. Magma also launched last year a rental system for hydraulic pumping for intervention, early production and temporary riser replacement, consisting of m-pipe with an integrated deployment package and crew.