Equinor joins Magma in qualification programme
£10.5m funding secured to qualify an insulated all carbon fibre subsea pipe
Equinor joins Magma in UK government backed qualification programme
ONS, Norway and Portsmouth, UK, 29th August 2018: Magma Global, manufacturer of carbon-fibre composite pipe, today announces a joint initiative with Equinor, previously Statoil, to qualify an all-Magma solution for jumpers, initially envisaged for use in Norway. This secures the £10.5m project being supported by Innovate UK and will be a step towards fulfilling Magma’s vision of owning the fluid transfer infrastructure from seabed to surface.
Charles Tavner, COO at Magma Global, said: “There is no doubt in our minds that the future subsea infrastructure will be dominated by carbon-fibre composites. We have seen acceptance of this from large contractors, each developing their own solution using m-pipe, which is a natural adoption path. This initiative will fast forward the delivery of an all-Magma solution, thanks to funding support from Innovate UK and Equinor’s vision and understanding of how they can best use available technologies.”
Derek Allen, Innovation Lead at Innovate UK, said: “We are delighted to have supported this innovative project that will ultimately lead to improved efficiency and cost reduction in the UK energy sector”