Novomet

Oil Production Equipment with Nanostructured Coatings

Operating Factories

Shareholders in Portfolio Company 
RUSNANO, Baring Vostok Capital Partners, Portfolio company management

Industry Sector 
Other

Production Location 
Perm
Jobs to be created: 4,000

Investment Started:  2011

Total Budget

18.16  bln rubles
Co-investment by RUSNANO
3.92  bln rubles

Expanding production of electric submersible pump systems and components with nanostructured protective coatings and development of a global service network

The portfolio company will manufacture oil production equipment for complex conditions—equipment (electric submersible pumps) for hardto-extract reserves and harsh well environments. The technological innovation of the project lies in using nanostructured protective and functional coatings of tungsten carbide with additions of titanium oxide, chrome, aluminum oxide, and molybdenum in production of ESP components. The coatings have been developed by Novomet and its partners.

RUSNANO's investment will also go toward developing a global servicing network so that Novomet can offer clients worldwide maintenance services for ESP systems—from selecting the most suitable units to regular and overhaul repairing of system elements along with training client personnel to achieve maximum exploitation.

Area of application

  • Oil and gas industry

Market

  • Oil production companies

Competitive advantages

  • Energy savings of 20% to 30%
  • Highly resistant to corrosion and hydroabrasion
  • Compactness

Novomet Perm, the portfolio company, will use a flame spray technology to apply the coatings. Granules in the structure of the coatings range from 5 nanometers to 100 nanometers. Nanotechnology delivers significant benefit, reducing the friction coefficient in the radial bearings by 30 percent to 40 percent, raising wear resistance in the bearings by 50 percent to 100 percent, raising resistance of pump parts to corrosion and hydroabrasion, lowering energy use, and reducing the size of the unit. The new coatings make economical use of tungsten, requiring only 1/40th of the amount of the precious element than is required in the solid alloys typically used to produce submersible pumps.

These benefits make the Novomet pump one of the most reliable and energy efficient in the global market, its advantages are unmatched for oil production at difficult fields and on the shelf.