Page 13 - AsianOil Week 03 2022

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SOUTH ASIA project. In addition, Hunting will provide its infrastructure scheme intended to stretch
patented premium connection technology from East Asia to Europe, the Middle East and
Jindal SAW Ltd. partners to thread premium connection on full range Africa.
of seamless tubing and casing used mainly
Chinese Foreign Minister Wang Yi
with Hunting Energy in deep drilling activities in the oil and gas met Iranian counterpart Hossein Amir-
sector. As a result, this JV will become the
Abdollahian in the Chinese city of Wuxi, in
Services to set-up India’s first in line to have a state-of-the-art premium Jiangu province, to launch the cooperation
deal, signed in March last year.
connection threading facility offering the
first ‘State-of-the-Art’ widest range capabilities in OCTG solutions agreement would deepen Sino-Iranian
The Chinese foreign ministry said the
in India.
Premium Connection agreement, Hunting and Jindal will build a cooperation in areas including energy,
Under the terms of the joint venture
infrastructure, agriculture, health care and
Threading facility dedicated premium connection threading culture, as well as cyber security.
facility in Nashik province near Jindal’s
Iranian President Ebrahim Raisi will this
JINDAL SAW, leaders in pipe manufacturing existing steel mill operations, with a proposed week visit Moscow for a meeting with Russian
industry, today announced a new joint 130,000 sq. ft. manufacturing footprint. leader Vladimir Putin.
venture with Hunting Energy Services, global JINDAL SAW, January 19, 2022 Both Moscow and Beijing back the
leader in developing premium connection ongoing efforts at the Vienna talks to relaunch
solutions, to set up India’s first ‘state-of- the nuclear deal signed by Iran and six major
the-art’ premium OCTG threading plant EAST ASIA powers—the US, Germany, France, the UK,
in Nashik in a 51%:49% partnership with China and Russia—in 2015 to curb Tehran’s
Jindal SAW as a majority shareholder. This Iran and China’s top nuclear development programme in return for
JV, aligned with Hon’ble Prime Minister’s the lifting of sanctions imposed on Iran.
vision of ‘Aatmanirbhar Bharat’, would open diplomats meet to launch China has kept up substantial purchases of
the doors of premium connection for OCTG Iranian oil in recent years despite the threat of
from India to various parts of the world and 25-year co-operation US sanctions directed at buyers of crude from
act as import substitution for players in oil the Islamic Republic. The trade is conducted
and gas drilling activities, thereby making agreement on the grey market.
India self-reliant in this segment.
The agreement formalises a closer working Iran and China on January 14 launched their
partnership between the two businesses, 25-year economic and political co-operation Jade Gas completes
following a strategic alliance in 2019 when agreement, while Beijing at the same time
Jindal SAW Ltd. and Hunting Energy Services reaffirmed its opposition to unilateral one of six wells for coal
started to develop their presence in the rapidly sanctions imposed by the US against Iran.
growing oil country tubular goods (OCTG) The deal is widely regarded as a roadmap bed methane project in
market in India. that could allow for manybns of dollars of
In this JV, Jindal SAW will bring its trade and investment if it is fully utilised. It Mongolia
location-specific capabilities and leverage its also brings Iran into China’s Belt and Road
expertise in mobilising the workforce for the Initiative, Beijing’s multi-trillion-dollar Jade Gas Holdings, an Australian gas
exploration company based in Mongolia, has
completed drilling Red Lake-1, the first of
six wells planned for the Tavantolgoi XXXIII
unconventional oil basin (TTCBM Project),
the company announced on January 14.
Jade is looking for gas from three coal
seams in the Red Lake Field. The drilling
campaign will help the company better
understand the core area.
“The team at Jade is highly excited by the
volume of gas-bearing coals seen at Red Lake-
1,” stated Jade CEO Chris Jamieson. “Most
crucially, Red Lake-1 encountered all target
coal seams, which were thicker than expected.
The positive results from Red Lake-1 have
accelerated the program, and we have engaged
second drilling.” Jade will drill two of the six
planned wells.
Red Lake-2, located two km west of Red
Lake-1, is slated to spud in the coming weeks.
Red Lake-3, located 1.3 km south-west of Red
Lake2, will also spud in the weeks ahead.

Week 03 21•January•2022 www. NEWSBASE .com P13