TechnipFMC: collaboration agreement with Magma Global

(CercleFinance.com) - On Friday morning it was announced that TechnipFMC and Magma Global have agreed on the terms of a collaboration agreement for the development of a new generation of hybrid flexible pipes that can be used in offshore applications.


These hybrid flexible pipes are expected to provide a substantial increase in strength and fatigue performance, while significantly reducing their weight and cost, for submarine fluid transport applications.

As part of this collaboration, TechnipFMC will acquire a minority interest in Magma Global.

Barry Glickman, President of Engineering, Manufacturing & Supply Chain at TechnipFMC, stated that this agreement with Magma will further enhance TechnipFMC's Subsea 2.0 product platform. The lighter, higher performance, and more cost-effective HFP solution, will enable TechnipFMC to strengthen its leadership position in the flexible pipe business and address the new challenges of offshore deepwater fields.


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