Hunting Energy Services and Jindal SAW Ltd. Form Strategic Partnership
- By NewsOnFloor Staff
- Aug 14, 2019
- 133 views
Hunting Energy Services (a wholly-owned subsidiary of Hunting PLC, LSE : HTG), with its leading Premium Connections technology, has today signed a strategic alliance with Jindal SAW Ltd., leaders in pipe manufacturing, in New Delhi.
Under the partnership, Hunting Energy Services will share their patented Premium Connections technology with Jindal SAW Ltd., who in turn will manufacture premium seamless casing and tubing using the connections technology.
Mr. Jim Johnson, CEO, Hunting PLC and Mr. Neeraj Kumar, Group CEO & Whole Time Director, Jindal SAW Ltd. signed the partnership, in the presence of Mr. PR Jindal, Chairman Jindal SAW Ltd.
On the occasion of the partnership, Mr. PR Jindal, Chairman Jindal SAW Ltd said that “this alliance will be a step forward in the government of India’s ‘Make in India’ initiative as promoted by the Government of India.” Mr. Jim Johnson, CEO, Hunting PLC said, “We are really glad to announce this Strategic Partnership with Jindal SAW Ltd. Both our strengths combined will bring in a revolution in the OCTG manufacturing and use in India. This will bring in a whole new cutting-edge range of premium seamless Casing and Tubing in the country.”
“India’s demand for seamless pipe with premium connections has until now been covered through imports. Now with this partnership for manufacturing seamless pipes in India, the nation can look at a reduction in their imports,” Mr. Johnson added.
This partnership will result in the manufacture of finished seamless Premium Casing and Tubing in India.
“We are pleased to join hands with Hunting and leverage their global expertise to manufacture premium connections. This is a huge step towards establishing a self-sustainable seamless pipe market in India. With this step, we will look at reducing our imports, in-turn saving substantial foreign exchange,” said Mr. Neeraj Kumar, Group CEO & Whole Time Director, Jindal SAW Ltd.
Notes to Editors:
About Hunting Energy Services
Hunting Energy Services are manufacturers of premium, high end downhole metal tools and components required to extract hydrocarbons across the well construction, completion and intervention stages of the well’s lifecycle. The Company’s broad range of products and associated services spans the lifecycle of the wellbore, irrespective of whether it is intended for oil, gas, onshore or offshore, conventional or unconventional.
About Jindal SAW Ltd.
Jindal SAW Ltd. is a leading global manufacturer and supplier of Steel pipe products, fittings and accessories with manufacturing facilities in India, USA, Europe and UAE. They manufacture Seamless Carbon & Alloy Steel pipes and tubes in their state of the art manufacturing facility at Nashik for Casing / Tubing & Linepipe application for the oil and gas sector. They also produce SAW Pipes (Submerged Arc Welded Pipes) for the energy transportation sector and Ductile Iron (DI) pipes & fittings for water and wastewater transportation.
About Hunting PLC
Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.
Hunting PLC’s Legal Entity Identifier is 2138008S5FL78ITZRN66.
Source : business-wire-india