Business
Collaboration Agreement with CRA-Tubulars BV
Collaboration Agreement with CRA-Tubulars BV.
About this update from Hunting Plc
[{"type":"text","content":"\n\n\n\n\n\nFor Immediate Release\n\n\n13 July 2023\n\n\n\n\n\n \n \nHunting PLC\n \n(\"Hunting\" or \"the Company\" or \"the Group\")\n \nCollaboration Agreement with CRA-Tubulars BV\n \nHunting PLC (LSE:HTG), the global engineering group, today announces that it has entered into a collaboration agreement with CRA-Tubulars BV (\"CRA\") to develop mutual energy transition market opportunities in North America.\n \nThe agreement provides Hunting with access to CRA's novel Titanium Composite Tubing (\"TCT\") technology and will utilise the Group's Oil Country Tubular Goods (\"OCTG\") connection technology to target Carbon Capture, Utilisation and Storage (\"CCUS\") and traditional corrosion resistant OCTG applications.\n \nAbout CRA and Titanium Composite Tubing technology\n \nCRA's highly experienced team have developed a novel tubular technology for the upstream oil and gas industry and is believed to be an enabling technology to accelerate carbon dioxide (\"CO2\") sequestration projects around the globe.\n \nWith its lightweight and superior anti-corrosion performance, TCT is a game changer technology for production and injection wells in highly corrosive environments. Customers can anticipate a host of benefits from this collaboration, specifically in the North American CCUS industry.\n \n\n\n\n\n· \n\n\nCRA's TCT technology offers superior corrosion resistance, handling the challenges of carbon dioxide corrosion and hydrogen sulphide. Unlike typical metallic corrosion-resistant alloys, TCT is made from aerospace grade Carbon Fibre and Titanium, which outperforms in cryogenic low-temperature environments found in CO2 injection wells, avoiding embrittlement and cracking issues.\n\n\n\n\n· \n\n\nWith a design built to last the entire lifespan of the well, TCT de-risks downhole tubing integrity challenges, associated with the level of water and other contaminants that remain in the CO2 injection stream after the filtering process or migrate into the well from the reservoir, resulting in substantial Capex and Opex cost savings for CCUS operators.\n\n\n\n\n \nTCT technology is being assessed by a number of leading Operators and in 2022 was recognised in the Shell Game-Changer program. TCT technology is also covered by a number of patents he...