Alcoa (AA) Continues Penetration in Oil and Gas Market: Announces Collaboration with Cameron
More News related to AA
- Alcoa's Kawneer Architectural Aluminum Products Enhance Learning in an Environmentally Friendly Way
- Alcoa to Rebuild, Enhance Forging Press in Cleveland
- Alcoa Partners with His Royal Highness The Prince of Wales' Rainforests Project
- ETF Movers: XLF, XLB, TAN, USO, GLD Up; FAZ, IYT, KRE Lower
- Alcoa Highlights Sustainable Aluminum Design for Building and Construction Industry at Greenbuild 2009
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 risers and require up to 40% less buoyancy material for similar depths. This weight savings equates into cost savings, because aluminum risers are easier and less expensive to transport, store and deploy.
Related Categories
Corporate NewsStocks Mentioned
+0.00Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
