Airborne Oil & Gas extends shareholder base with Subsea 7
Airborne Oil & Gas (AOG), the leading manufacturer of Thermoplastic Composite Pipe (TCP) for oil & gas applications, announces a new 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. The shareholder base of Airborne Oil & Gas, with its headquarters in IJmuiden, The Netherlands, already includes Shell, Chevron, Saudi Aramco and Evonik. The addition of Subsea 7 offers added value as the company is optimally positioned to advise energy companies at an early stage on the best pipe structure and set-up. Subsea 7 also has a significant presence in Brazil, a key region for Airborne Oil & Gas’ activities. Together, the companies can work on the development of other innovative pipe solutions for the industry.
With its Thermoplastic Composite Pipe (TCP), Airborne Oil & Gas 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 deep water development and unlocks further significant savings through its lasting influence on subsea architecture and floating production facilities. Manufactured from a composite of fibres 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 of up to 15k psi/1.050 bar design pressure – and 40k psi/2,800 bar burst pressure – as well as temperatures ranging 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.