Alcoa Chairman and CEO Klaus Kleinfeld and OJSC RUSNANO CEO Anatoly Chubais signed the MOU at the St. Petersburg International Economic Forum.

“Complex oil and gas development projects require drilling equipment with enhanced capabilities,” Anatoly Chubais said. “Aluminum drill pipe with antiwear nano-coating would enable directional and deep water drilling in aggressive, corrosive environments. We expect our joint efforts with Alcoa will create a differentiated product for customers in the oil and gas industry.”

Mr. Kleinfeld added, “Alcoa’s deep technological capabilities, combined with the expertise of our partner RUSNANO, will open new opportunities for developing the aluminum industry in Russia. Alcoa is setting a high standard for innovation and extending our product range in the oil and gas segment.”

With facilities in Samara and Belaya Kalitva, Alcoa is Russia’s largest producer of fabricated aluminum, manufacturing a wide range of flat rolled products, forgings and extrusions for a variety of end markets including aerospace and automotive. Under terms of the MOU, Alcoa will leverage its Samara facility to produce aluminum drill pipe with hot fit tool joints for the country’s oil and gas market. Rusnano Capital, a subsidiary of OJSC RUSNANO, will contribute capital in-kind.

The antiwear nano-coating is expected to extend the life of the aluminum pipe by approximately 30% to 40% in aggressive and corrosive drilling environments compared to uncoated aluminum pipe.

Alcoa is the world’s leading producer of primary and fabricated aluminum, as well as the world’s largest miner of bauxite and refiner of alumina. Among the solutions Alcoa markets are flat-rolled products, hard alloy extrusions, and forgings, as well as Alcoa® wheels, fastening systems, precision and investment castings, and building systems in addition to its expertise in other light metals such as titanium and nickel-based super alloys.

RUSNANO was founded in March 2011 as an open joint stock company through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO’s mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit.