ST. PETERSBURG, Russia/NEW YORK - Alcoa and OJSC RUSNANO will produce technologically advanced oil and gas aluminum drill pipe finished with a life-extending anti-wear coating under a memorandum of understanding (MOU) signed by the companies. With the help of the Alcoa Technical Center, the parties intend to pursue the potential application of a nanotechnology-based coating for 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 anti-wear 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.”

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 anti-wear nano-coating is expected to extend the life of the aluminum pipe by approximately 30-40 percent in aggressive and corrosive drilling environments compared to uncoated aluminum pipe.

RUSNANO was founded in March 2011 as an open joint stock company through reorganization of the 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.