A company - which has enjoyed a string of new orders - has revealed an international deal that could have “game-changing potential.”
JDR, which supplies subsea power cables and has a flourishing base in Hartlepool, has signed a memorandum of understanding with Magma Global which makes high performance carbon fibre and thermoplastic composite pipes.
This collaboration with Magma presents a unique opportunity to harness the combined benefits of industry-leading technologies to create pioneering solutions with game-changing potentialJames Young
The deal was completed in Houston in the USA and will see a collaboration that will combine JDR’s subsea cable and umbilical technologies with Magma’s composite pipe products.
The project will develop new solutions that both reduce the cost and extend the life of offshore oil and gas projects.
James Young, chief technology offficer of JDR, said: “JDR has built its success on its technical expertise and reliability so we’re always on the look-out for likeminded partners.
“This collaboration with Magma presents a unique opportunity to harness the combined benefits of industry-leading technologies to create pioneering solutions with game-changing potential.”
Charles Tavner, Magma’s Chief Operating Officer, said: “Looking at how we might combine m-pipe with JDR’s products, both recognised as leaders in their respective fields, makes complete strategic sense.
“Industry is seeking safer and more reliable solutions that help reduce project costs. We are excited about teaming up with JDR to look at new ways to continue achieving those objectives.”
JDR has won a string of contracts in the last few months.
In February, it became the preferred cable partner for US Wind Inc on its first offshore wind project.
That means JDR will provide the cables for the Maryland Development project, where up to 187 turbines will be placed in water depths up to 100ft. The overall wind project will be worth $275million.
In another deal, JDR secured a contract earlier this year with an organisation called Cameron Ltd, on behalf of operator ONGC. It involves work for 11 oil and gas wells which are found at ONGC’s Western Offshore fields in India.
And late last year, it was announced that a deal had been awarded by DONG Energy, which wanted JDR to supply subsea power cables for the Hornsea Project One.
When it is finished, the Hornsea wind farm will meet the electricity needs of well over 1 million UK homes – and JDR will have supplied more than two thirds of all the cables in it.