Alcoa and RUSNANO Sign Memorandum of Understanding to Produce Aluminum Drill Pipe with Antiwear Coating for the Oil and Gas Market
Alcoa (NYSE:AA) and OJSC RUSNANO will produce technologically advanced
oil and gas aluminum drill pipe finished with a life-extending antiwear
coating under a Memorandum of Understanding (MOU) signed by the
companies today. With the help of the Alcoa Technical Center, the
parties intend to pursue the potential application of a
nanotechnology-based coating for the aluminum drill pipe to enhance its
wear resistance in harsh corrosive drilling environments.
Alcoa Chairman and CEO Klaus Kleinfeld and OJSC RUSNANO Chief Executive
Officer Anatoly Chubais signed the MOU at the St. Petersburg
International Economic Forum.
'Complex oil and gas development projects require drilling equipment
with enhanced capabilities,? Chubais said. 'Aluminum drill pipe with
antiwear nano-coating would enable directional and deep drilling in
aggressive, corrosive environments. We expect our joint efforts with
Alcoa will create a differentiated product for customers in the oil and
gas industry.?
Mr. Kleinfeld added, 'Alcoa′s deep technological capabilities, combined
with the expertise of our partner RUSNANO, will open new opportunities
for developing the aluminum industry in Russia. Alcoa is setting a high
standard for innovation and extending our product range in the oil and
gas segment.?
With facilities in Samara and Belaya Kalitva, Alcoa is Russia′s largest
producer of fabricated aluminum, manufacturing a wide range of flat
rolled products, forgings and extrusions for a variety of end markets
including aerospace and automotive. Under terms of the MOU, Alcoa will
leverage its Samara facility to produce aluminum drill pipe with hot fit
tool joints for the country′s oil and gas market. RUSNANO Capital, a
subsidiary of OJSC RUSNANO, will contribute capital.
The antiwear nano-coating is expected to extend the life of the aluminum
pipe by approximately 30% to 40% in aggressive and corrosive drilling
environments compared to uncoated aluminum pipe.
About Alcoa
Alcoa is the world′s leading producer of primary
and fabricated aluminum, as well as the world′s largest miner of bauxite
and refiner of alumina. In addition to inventing the modern-day aluminum
industry, Alcoa innovation has been behind major milestones in the
aerospace, automotive, packaging, building and construction, commercial
transportation, consumer electronics and industrial markets over the
past 125 years. Among the solutions Alcoa markets are flat-rolled
products, hard alloy extrusions, and forgings, as well as Alcoa ? wheels,
fastening systems, precision and investment castings, and building
systems in addition to its expertise in other light metals such as
titanium and nickel-based super alloys. Sustainability is an integral
part of Alcoa′s operating practices and the product design and
engineering it provides to customers. Alcoa has been a member of the Dow
Jones Sustainability Index for 11 consecutive years and approximately 75
percent of all of the aluminum ever produced since 1888 is still in
active use today. Alcoa employs approximately 61,000 people in 30
countries across the world. For more information, visit www.alcoa.com,
follow @Alcoa on Twitter at www.twitter.com/Alcoa
and follow Alcoa on Facebook at www.facebook.com/Alcoa.
In 2005, the Company acquired two of Russia′s largest fabricating
facilities: Samara Metallurgical Plant (now ZAO Alcoa SMZ) and Belaya
Kalitva Metallurgical Production Association (now ZAO AMR).
About RUSNANO
RUSNANO was founded in March 2011 as an open
joint stock company through reorganization of state corporation Russian
Corporation of Nanotechnologies. RUSNANO's mission is to develop the
Russian nanotechnology industry through co-investment in nanotechnology
projects with substantial economic potential or social benefit. The
Government of the Russian Federation owns 100 percent of the shares in
RUSNANO. Anatoly Chubais is CEO and chairman of the Executive Board of
RUSNANO.
Work to establish nanotechnology infrastructure and training for
nanotechnology specialists, formerly conducted by the Russian
Corporation of Nanotechnologies, has been entrusted to the Fund for
Infrastructure and Educational Programs, a non-commercial fund also
established through reorganization of the Russian Corporation of
Nanotechnologies.
Alcoa
Investor Contact
Kelly Pasterick, +1 212-836-2674
Kelly.Pasterick@alcoa.com
or
Media
Contacts
Alexey Khodorov, +7 495-777-0404
Alexey.Khodorov@alcoa.com
or
Monica
Orbe, +1 212-836-2632
Monica.Orbe@alcoa.com
