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Magma wins Energy Institute Award for Innovation

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Oilfield Technology,


Magma Global has announced it has won the Energy Institute’s 2018 Award For Innovation. Magma was up against a variety of renewable energy innovations, including SSE’s Wind Turbine Nitrogen Accumulators and Imperial College’s Next-Generation High-Efficiency Affordable Hybrid Solar Systems, but m-pipe was selected due to its positive impact on the oil and gas industry.

Martin Jones, MD at Magma Global, said: “m-pipe is being seen as a game changer as it delivers cost effective and ecologically improved development of deepwater reserves. It significantly simplifies engineering and in doing so reduces cost and time to first oil. Most importantly it doesn’t corrode or degrade in the oil field and can be lifted and reused at the end of a field’s life.

“We’d like to thank our early supporters who helped pave the way for qualification and market adoption, and our team of engineers who strive to simplify a complicated world. m-pipe is being embraced by a justifiably risk averse industry and we are delighted to be recognised with this award.”

Energy Institute President Malcolm Brinded CBE FREng FEI said: “Beating climate change - whilst extending the tremendous benefits of energy to all populations - calls for innovation and a lot of hard work, by many smart people, all around the world.

“Too often these efforts are behind the scenes and complicated, and so they go unnoticed. That’s what the Energy Institute Awards are for – an opportunity to sing the praises of the very best within our industry - from India to the Highlands, from oil and gas to the most advanced smart tech, from the seabed to our classrooms.

“In so doing we also acknowledge the collective endeavour of all energy professionals around the world whose day-to-day is building the energy system of the future.”

Read the article online at: https://www.oilfieldtechnology.com/special-reports/28112018/magma-wins-energy-institute-award-for-innovation/

 

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