Maritime Developments targets well intervention market with joint venture
Maritime Developments has entered a partnership with high performance pipeline manufacturer Magma Global to develop a unique well intervention solution for the offshore oil and gas market.
The joint venture will design, manufacture and deliver a complete back-deck package for deployment and retrieval of Magma’s unique product offering, the m-pipe®, to maximise operator’s return on investment in the well intervention sector.
m-pipe® is a high-strength carbon fibre pipe manufactured using a high end oilfield polymer. It offers significantly better high-pressure, high-temperature (HPHT) and sour service capability than traditional steel-based products in deep-water applications, making it an ideal choice for subsea intervention market.
Complementing the product’s unique flexible design, Maritime Developments will provide a complete deployment/retrieval package, including a bespoke reeler system with a built-in tensioner to minimise back-deck footprint and mitigate risks involved in well intervention.
Derek Smith, chief executive of Maritime Developments, said:
“This is an exciting time for Maritime Developments as we set out to build on our proven expertise in providing forward-thinking back-deck solutions for the energy sector with this new partnership.
“The joint venture with Magma will allow us to push the innovation boundaries once more by delivering an operator-friendly and cost-effective solution in our specialist field of back-deck operations.
“Our bespoke design for Magma will optimise the functionality of the m-pipe® by using our proven equipment, packaged in a way that will deliver the most efficient footprint for handling the product by the operator.
“The m-pipe is a fantastic product and our handling system complements it perfectly - that is why we are committed to supporting Magma in this venture as well as by delivering other deployment systems for their remaining product range.”
Steve Hatton, technical director at Magma Global, said:
“m-pipe has been designed to address ongoing challenges faced by oil and gas operators, including the need to maximise production from existing fields by more effective light well intervention.
“Our ongoing partnership with Maritime Developments facilitates a stepwise improvement in current intervention capabilities, combining a high specification pipe with a proven subsea delivery system.
“MDL’s system will allow m-pipe to be deployed in a highly efficient and safe manner as a full back-deck solution, with more rapid pipe spooling, deployment and retrieval
“m-pipe’s low weight, around ten times lighter in water than steel pipe equivalent, will also enable the use of smaller deployment vessels, a key benefit in well intervention.
“As part of Magma’s partnership with MDL, we can deliver a full package that offers intervention line rental or sales or a combination of both, together with full after-sales support for the operators, depending on their individual needs.”
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