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Together, ADNOC Drilling and Masdar have decided to investigate the potential of geothermal energy | |
| Staff Writer |
Under the terms of the five-year MoU signed by ADNOC Drilling Company and Masdar, the two companies will investigate opportunities for joint development, investment, operations, and projects to sustainably accelerate the energy transformation in the United Arab Emirates and beyond.
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In accordance with the MoU, ADNOC Drilling will act as a drilling technical specialist and advisor to assist Masdar in the global deployment of geothermal energy.
The two businesses will collaborate to determine if ADNOC Drilling can offer geothermal drilling services.
"Geothermal energy has enormous global potential and energy developers are challenged to ensure smart and innovative ways to deliver cost-effective wells," said Abdulrahman Abdulla Al Seari, CEO of ADNOC Drilling.
As of September 2022, ADNOC Drilling Has Had a Very Successful Nine Months.
For Masdar to harness the potential of producing clean geothermal energy to cool thousands of homes and business buildings, "our leading integrated drilling services offering can bring advanced, efficient start-to-finish drilling and completion technologies."
Masdar CEO Mohamed Jameel Al Ramahi said, "This MoU with ADNOC Drilling further reinforces Masdar's commitment to unlocking clean energy opportunities across a wide range of technologies."
Masdar recently added geothermal energy to its expanding clean energy portfolio, so the company is looking forward to collaborating with ADNOC Drilling to realise geothermal's potential in accelerating the global energy transition.