Hunting Regulatory News (HTG)

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.

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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.