Region: Middle East
Content Types: Report
Date: Mar, 2023

ADNOC geothermalADNOC Drilling Company has signed a five-year Memorandum of Understanding (MoU) with Masdar, one of the world’s leading clean energy companies, for the collaboration around development, investment, operations and projects to responsibly advance the energy transition.

Under the MoU, the company will engage as a drilling technical expert and advisor to support Masdar’s deployment of geothermal energy around the world. The companies will jointly evaluate the potential for ADNOC Drilling to provide geothermal drilling services.

Chief Executive Office for ADNOC Drilling, Abdulrahman Abdulla Al Seari, said, “Geothermal energy has enormous global potential and energy developers are challenged to ensure smart and innovative ways to deliver cost-effective wells. Our leading integrated drilling services offering can bring advanced, efficient start-to-finish drilling and completion technologies to enable Masdar the potential to generate clean geothermal energy to cool thousands of homes and office buildings.”

Mohamed Jameel Al Ramahi, Chief Executive Officer at Masdar, commented, “This MoU with ADNOC Drilling further reinforces Masdar’s commitment to unlocking clean energy opportunities across a wide range of technologies. With Masdar recently adding geothermal energy to our growing clean energy portfolio, we are excited about the important role that geothermal can play in helping to drive forward the global energy transition, and we look forward to working with ADNOC Drilling to realise that potential.”

Masdar entered the geothermal energy sector last month, with a strategic investment in Indonesia’s Pertamina Geothermal Energy (PGE), one of the world’s largest geothermal players.