Solvay signs agreement with Baker Hughes to expand use of composite materials in oil and gas pipes
Brussels, November 6, 2019 --- Solvay announced today that it has signed an agreement with BAKER HUGHES to partner on innovative solutions implementing THERMOPLASTIC COMPOSITE MATERIALS in offshore flexible pipes and risers for the oil and gas industry. Solvay’s expertise in composite materials and leadership and innovation in polymers, combined with Baker Hughes’ expertise in oilfield equipment will help accelerate the adoption of composite technology in the oil and gas industry. Thermoplastic composites are enabling the adoption of flexible risers for ultra-deep waters while requiring lower total expenditure than conventional technologies.
“It’s a privilege to work with one of the world’s leading energy technology companies. Our collaboration with Baker Hughes is a landmark in our strategy to expand the use of thermoplastic composites into new markets, leveraging its lightweight and non-corrodible properties versus metal,” said Augusto DiDonfrancesco, member of Solvay’s executive committee.
Andrea Fibbi, Technology Executive, Oilfield Equipment, Baker Hughes said: “We believe this partnership with Solvay will accelerate the introduction of non-metallic materials in the energy industry at a time where we are increasing our focus on reduced cost and improved efficiencies.”
Thermoplastic composite pipes are flexible and weigh significantly less than conventional equipment, making the installation and connection of new equipment quicker and more cost-effective. Maintenance is also simplified as composites do not corrode and offer superior fatigue resistance - even in ultra-deep waters. Flexible pipes associated with FPSO (Floating, Production, Storage and Offloading) vessels enable production system that can be efficiently removed at decommissioning.
Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end-markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources, and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 24,500 employees in 61 countries. Net sales were €10.3 billion in 2018, with 90% from activities where Solvay ranks among the world’s top 3 leaders, resulting in an EBITDA margin of 22%. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris Bloomberg: SOLB.BB - Reuters: SOLB.BR), and in the United States its shares (SOLVY) are traded through a level-1 ADR program. (Figures take into account the planned divestment of Polyamides).