Alcoa Looks to Commercialize Aluminum Riser System for Oil Rigs

Alcoa (NYSE:AA) announced today that it has signed a development agreement with Cameron to commercialize aluminum drilling riser systems for offshore oil and gas exploration and development. Houston-based Cameron markets and develops various products for the oil and gas market and is a market leader in the offshore drilling risers business. Alcoa is an expert in aluminum technology and the design and manufacture of aluminum products. The two companies will combine their expertise and collaborate on research and development projects to broaden the market for aluminum drilling riser systems. The lightweight aluminum riser system will extend the capability of existing drilling vessels allowing exploration in deeper depths of 20% or more versus conventional steel risers. Welded aluminum risers weigh nearly 40% less than steel... [read full story]                    

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