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Alcoa And RUSNANO Sign Memorandum Of Understanding To Produce Aluminum Drill Pipe With Antiwear Coating For The Oil And Gas Market

Stocks in this article: AA

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 AlcoaAlcoa 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).

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