Amsterdam, 4 December 2017
Subsea 7 enters the shareholder base of Airborne Oil & Gas
Today, Airborne Oil & Gas (AOG), the leading manufacturer of Thermoplastic Composite Pipe (TCP) for oil & gas applications, announces the latest addition to its shareholder base with Subsea 7. Subsea 7 is a world leader in seabed to surface engineering, construction and service contractor. The investment by Subsea 7 entails a partnership of strategic importance to both parties providing the oil & gas industry with cost effective pipe technology solutions that are non-corrosive, light-weight, simpler and faster to install.
Marnix Boorsma, CEO Airborne Oil & Gas “We are proud of our shareholder base, which already included Shell, Chevron, Saudi Aramco and Evonik. We are delighted to be able to work with Subsea 7. They will contribute importantly to our overall value proposition, especially given the role that installation contractors nowadays are increasingly taking in the industry. Subsea 7 is optimally positioned to advise energy companies at an early stage on the best pipe structure and set-up. Their significant presence in Brazil, a key region for Airborne Oil & Gas’ activities, supports our business – especially regarding deepwater opportunities. We look forward to collaborate with Subsea 7, also on the development of other innovative pipe solutions for the industry.”
Thermoplastic Composite Pipe (TCP) offers a radical reduction in cost and improvement in asset integrity. This applies for greenfield and brownfield developments in all regions and water depths. TCP pushes the boundaries of deepwater development and unlocks further significant savings through its lasting influence on subsea architecture and floating production facilities
TCP is flexible and importantly spoolable with continuous lengths up to 4km and higher. Manufactured out of a composite of fibers and polymers, it is light-weight, non-corrosive and non-permeable. The fully bonded structure trumps traditional and hybrid flexibles with the elegance and simplicity of its design. The pipe can handle pressures up to 15k psi/1,050 bar design pressure (and 40k psi/2,800 bar burst pressure) and temperatures up to 121˚C/250˚F. TCP’s long length and low weight allow for much faster and cheaper installation, also creating many more options in the overall project development schedule.
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