Perm oil engineering firm pushes innovation for drill pipes | Urals, Industry, manufacturing

Urals | Industry, manufacturing | Materials, extraction

Perm oil engineering firm pushes innovation for drill pipes

21 Mar '13
Perm Oil Machine Engineering Company (PKNM), in the West Urals, told Marchmont yesterday that it now ranks among Russia’s Top 100 of most innovative companies, according to the Association of Russia’s Innovation Regions and Russian Venture Company (RVC).

The 2012 ranking of Russia’s leading industrial innovators is the first of its kind to have evaluated each company based on an increase in its sales resulting from innovation activity. The PKNM group of companies more than doubled its net profit last year from $2.2m to $4.5m, which stemmed from a boost in drill gear sales and pipe repairs.

PKNM applies innovation technologies when manufacturing drill pipes. Using ion-vacuum nitride hardening has helped the company enhance the wear resistance and performance of drilling gear, enabling its customers to use the pipes in aggressive mediums, PKNM told Marchmont.

According to Vladimir Zharennikov, the CEO of PKNM, “improvements on drilling equipment make it possible for customers to broaden its applications… and operate in taxing geological and climatic conditions.”

Perm Oil Machine Engineering Company has been in the market since 1993, making products for oil producers and chemical, nuclear energy and aircraft engineering companies.