RCS - Hunting PLC - India Facility Opening

HuntingAnnouncement

18/09/2023 12:00

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RNS Number : 7855M  Hunting PLC  18 September 2023

 For Immediate Release  18 September 2023

 

 

Hunting PLC

 

("Hunting" or the "Company")

 

India Facility Opening

 

LONDON, England. The following announcement has today been issued by Hunting's
joint venture company Jindal Hunting Energy Services Limited.

 

Hunting PLC holds a 49% interest in the joint venture.

 

For further information please contact:

 

 Hunting PLC                                                Tel: +44 (0) 20 7321 0123

 Jim Johnson, Chief Executive

 Bruce Ferguson, Finance Director

 lon.ir@hunting-intl.com (mailto:lon.ir@hunting-intl.com)

 Buchanan                                                   Tel: +44 (0) 20 7466 5000

 Ben Romney

 Barry Archer

 George Pope

 

***********

 

Press Release

 

Powering AatmaNirbhar Bharat of Tomorrow: Jindal Hunting Energy Services Ltd.
(JHESL) Unveils State-of-the-Art Facility in India

 

~JHESL plant is the only facility in India to manufacture and supply pipes
& tubes with premium connections to OCTG market in oil & gas sector in
India

~ Annual threading capacity of the facility is 70,000 metric tons of OCTG

 

Nashik/New Delhi/Mumbai, September 18, 2023: In line with Indian Government's
vision of AatmaNirbhar Bharat, Jindal Hunting Energy Services Limited, a Joint
Venture between global giants Jindal SAW Ltd. & Hunting Energy Services
Ltd. proudly announces the grand opening of their facility collocated at the
seamless tube facility of Jindal SAW Ltd. at Nashik, Maharashtra today.

 

The newly launched facility stands as the inaugural and presently sole
facility capable of producing and supplying pipes, tubes, and premium
connections to the OCTG market within the Indian oil & gas sector. Thus
far, all these products had to be imported from other countries, putting a
strain on the foreign exchange situation in India. This facility not only
supports Indian Oil & Gas industry but also will have huge export
potential thereby earning valuable foreign exchange for the country.

 

Complementing the team on this stupendous achievement Mr. P.R. Jindal, the
Chairman of Jindal SAW Ltd. expressed his happiness and satisfaction that with
this initiative the group will be able to participate in the AatmaNirbhar
initiative of the Government of India.

 

The facility is envisioned as a 'Center of Excellence', a unique establishment
in this region, offering a comprehensive array of products and services within
the OCTG (Oil Country Tubular Goods) sector of the Oil & Gas industry.

 

The facility's versatility extends to threading Hunting's premium connections,
ranging from 2-3/8" to 20", and providing Large O.D. Welded Connectors,
spanning from 20" to 36". This comprehensive range encompasses various grades
in iron & steel, as well as alloy steel & exotic value-added grades.

 

Mr. Jim Johnson, CEO, Hunting PLC said, "This is a fantastic milestone,
firstly with our strategic partnership with Jindal SAW Ltd back in August 2019
to the realization of the vision developed over the past four years, great
progress has been made. Today, both Jindal SAW and Hunting make history, with
the opening of the JV's full-fledged premium OCTG, accessories and
manufacturing operations, in support of the Government's "Make in India"
initiative. Hunting will work alongside Jindal SAW to provide the highest
standards in quality and services in delivering the best premium OCTG and
accessories to our valued customers in India and also abroad.  We look
forward to introducing more advanced Connection Technology as we progress
along. I want to thank and congratulate our partner, Jindal SAW, for the
shared vision and commitment on this wonderful and exciting journey to
excellence. I am confident that this JV Manufacturing Hub will bring benefits
to local O&G industry, and also play a part in India's Energy Transition".

 

The facility is set to achieve an annual threading capacity of 70,000 metric
tons of OCTG. It will be fully supported by a seamless supply chain, drawing
raw materials and inputs from the Jindal SAW facility in Nashik and other
locations across the country. This state-of-the-art facility boasts
cutting-edge equipment, on par with the best globally, featuring a high degree
of automation and sophisticated testing capabilities to guarantee top-quality
products that meet the rigorous demands of the oil & gas sector.

 

Mr. Daniel Tan, MD, Hunting Asia Pacific Segment added, "Both JSAW and Hunting
have come a long way, starting from sharing an idea in forging a Strategic
Alliance and finally to a fully-fledged JV Manufacturing Hub for premium OCTG
and accessories, built from greenfield.   With a fully Integrated Supply
Chain, i.e the JV Manufacturing Hub built next to Jindal SAW seamless pipe
mill, and with easy access to Mumbai port, we provide world-class premium OCTG
not only to the rapid growing domestic market in India, but also serve as an
important Gateway to the Middle East and Africa market. The JV Manufacturing
Hub is truly a One-Stop shop for premium OCTG and accessories for both
domestic and international valued customers".

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 & Line pipe 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.

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