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Strategic Alliance
Strategic Alliance.
About this update from Hunting Plc
[{"type":"text","content":"\n\n\n\n\n\nFor Immediate Release\n\n\n5 June 2023\n\n\n\n\n\n\nHunting PLC\n \n(\"Hunting\" or \"the Company\" or \"the Group\")\n \nStrategic Alliance\n \nHunting enters wide-ranging 10-year Strategic Alliance Agreement for CRA OCTG\n \nSecures key supply channel for carbon capture, geothermal and traditional energy markets\n \nHunting PLC (LSE: HTG), the international energy services group, today announces that it has entered into a 10-year Strategic Partnership with Zhejiang Jiuli Hi-Tech Metals Co., Ltd (\"Jiuli\") for the supply of corrosion resistant alloys (\"CRA\") for Oil Country Tubular Goods (\"OCTG\"), carbon capture, utilisation and storage (\"CCUS\") and geothermal applications.\n \nCCUS and geothermal are two end-markets that Hunting is pursuing as part of its strategy to become a key supplier to these sectors by providing project developers with critical supply channels and the premium connections required for these increasingly challenging technical projects, which operate in demanding sub-surface environments. All these end-markets are believed to show robust demand and growth in the medium to long term.\n \nThe partnership brings together Hunting's Seal-Locktm premium connection technology with Jiuli's CRA, such as duplex/super duplex and high nickel-based alloys, for downhole casing and production tubing applications, which meet some of the harshest well conditions in the traditional oil and gas industry as well as the emerging CCUS and geothermal markets. The partnership also adds to Hunting's existing OCTG product portfolio and enables the supply of the widest range of premium OCTG for its client base, within the international energy and transition markets, as projects accelerate in the key areas of North America, Middle East and Africa and Asia Pacific.\n \nZhejiang Jiuli Hi-Tech Metals Co., Ltd., is listed in Shenzhen, China, and was established in 1987. Jiuli specialises in the research and development and production of industrial stainless steel and special alloy pipes, bars and other pipeline products. As a leading CRA supplier in China, its products export to more than 70 countries for oil and gas, photovoltaic energy, solar energy and wind energy applications.\n \nCommenting on trading, Jim Johnson, Chief Executive, said:\n \n\"Our relationship with ...