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Saturday, June 3, 2023

Abu Dhabi’s ADNOC Drilling, Masdar explores geothermal energy development

ADNOC Drilling Co. and UAE renewable energy company Masdar have signed a five-year memorandum of understanding to explore geothermal energy opportunities as a means to drive the clean energy transition.

In a statement on Tuesday, the companies said they would jointly assess the potential of ADNOC Drilling to provide geothermal drilling services.

Mohamed Jameel Al Ramahi, CEO of Masdar, said: “This MoU with ADNOC Drilling further strengthens Masdar’s commitment to unlocking clean energy opportunities across a broad range of technologies. With Masdar’s recent addition of geothermal energy to our growing clean We are excited about the important role geothermal energy plays in the energy mix

Help drive the global energy transition…”

Masdar entered the field of geothermal energy in February with a strategic investment in Indonesia’s Pertamina Geothermal Energy (PGE), one of the largest geothermal companies in the world.

ADNOC Drilling, a subsidiary of ADNOC, the Abu Dhabi National Oil Company, will support Masdar in deploying geothermal energy around the world as drilling technology experts and consultants.

(Writing by Brinda Darasha; Editing by Seban Scaria)


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