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ECONOMY > Energy

Kanematsu, JFE Steel to build oil pipe processing R&D facility in U.S.

  • August 16, 2017
  • , Nikkei , p. 14
  • JMH Translation

Kanematsu and JFE Steel will build a new R&D center in the U.S. by around next summer to develop oil well pipe processing technologies used in drilling and production in oil and gas fields. The project will cost 300 million yen. Resource majors and oil-producing countries are showing signs of plowing more money into development on the back of rising oil prices. The Japanese firms will look to step up their efforts to make attractive proposals by catering to the local needs in the U.S., where shale oil and undersea oil development is gaining traction.

 

Kanematsu and JFE Steel plan to set up the new facility inside a processing factory in the U.S. state of Louisiana that they have a joint stake in. (Abridged)

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