ST. PETERSBURG, Russia & NEW YORK--une 21, 2013: Alcoa 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.
“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.”
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.
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.
