A corrosion-inhibiting composition and method of inhibiting corrosion on metal surfaces are described. The composition comprises a reaction product of (a) a first constituent selected from an epoxide having an average of at least about one vicinal epoxide per molecule and a halogenated aliphatic compound having at least one displaceable halogen and (b) a second constituent comprising a dimercaptan. The reaction product in a hydrocarbon diluent is an effective corrosion inhibitor when applied to metal surfaces in highly corrosive environments, and is designed particularly for downhole metal surfaces of oil drilling equipment.
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