US-based Hunting Energy on Wednesday said it has partnered with pipe-maker Jindal Saw to provide its patented connections technology to manufacture finished seamless casing and tubing in India.
At present, India imports over USD 200 million worth of premium connection casings and tubings - a range of pipes in demand in oil and gas sector - from different sources around the world, Hunting Energy Services said.
"Under the partnership, Hunting Energy Services will share their patented premium connection technology with Jindal SAW Ltd, who in turn will manufacture top quality premium seamless Casing and Tubing using the technology," Hunting Energy Services said in a statement.
Hunting PLC CEO Jim Johnson said the partnership with Jindal Saw Ltd will be a game changer for the overall industry. India's demand for seamless pipe with premium connections has till now been covered through imports. Now with this partnership for manufacturing seamless pipes in India, the nation can look at reduction in their imports.
"Both our strengths combined will bring in a revolution in the OCTG (Oil Country Tubular Goods) manufacturing & use in India. This will bring in a whole new cutting-edge range of premium seamless Casing and Tubing in the country," he said.
There is huge demand of premium connections in the domestic market and the company with this partnership aims at reducing imports of the product, Jindal Saw Group CEO and whole time Director Neeraj Kumar said.
"These types of pipes are required to provide connection in deep oil wells where there is high pressure, torque and temperature....The product is being imported entirely from outside India," Dinesh Chandra Sinha, head of seamless tube division at Jindal Saw, said.
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The company will begin the production of finished seamless premium casing and tubing in India within two months at its Nashik facility, he said.
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.
Jindal Saw Ltd is a manufacturer and supplier of steel pipe products, fittings and accessories with manufacturing facilities in India, the US, Europe and UAE.
At present, it manufactures seamless carbon & Alloy Steel pipes and tubes at Nashik.
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