TIDMHTG
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
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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