After three decades of planning, Košice is set to begin its long-awaited geothermal energy project today.
Under the new agreement, Halliburton will conduct a subsurface feasibility study to help accelerate the deployment of EAPOSYS Advanced Geothermal Systems (AGS), to help contribute to the industrialisation of EAPOSYS’ engineering and well design.
ÍSOR (Iceland GeoSurvey) has announced a new partnership with AGEN (Arctic Green Engineering Services), a Hungary-based international consultancy specialising in geoscience, engineering, technical services, and innovation
OSSO has secured a major geothermal contract to provide its high-capacity mud cooling technology to support a six well, three rig drilling campaign in Germany’s Upper Rhine region.
Cornish Lithium has secured further investment from the National Wealth Fund (NWF) to enable the company to develop a secure supply of lithium to the UK.
Vulcan Energy has signed a major contract with Turboden and ROM Technik for the development, procurement and construction of the commercial geothermal power plant near Landau, Germany.
A merger between two of the energy industry’s largest drillers could create a new heavyweight player within the geothermal sector, bringing with it fresh ideas, new technology and huge financial clout.
Italy’s Saipem and Norway’s Subsea7, best-known for their work across the global oil and gas industry, first announced their intention to merge earlier this year.
The new entity — to be renamed Saipem7, with combined revenues of some €21bn, and to be headquartered in Milan — will also have a strong interest in the emerging technologies being utilised across the geothermal field.
While the completion of the merger is not anticipated until well into 2026, the concentration of resources and huge expertise in drilling could yield significant gains for the advancement of the geothermal industry.
Announcing the rationale behind the merger, the two companies said that the new combined entity would offer a full spectrum of offshore and onshore services for clients working in renewable energy, as well as oil and gas, and carbon capture.
It also builds on existing work, particular by Saipem, which last year announced its intention to accelerate research and development in the geothermal energy world.
That included, for example, a collaboration with Geolog and Ignis H2 Energy to develop advanced technological solutions and conduct feasibilities studies for new geothermal plants in order to obtain clean and renewable energy, both in Italy and worldwide.
At the time, Saipem said the pact formed a part of its wider research and development efforts dedicated to offering geothermal technological solutions and for other energy transition applications.
Saipem also added that its three main areas of interest in the sector relate to next-generation geothermal energy systems, offshore geothermal energy and the conversion of oil and gas wells.
Arverne Group has completed Series B2 financing for its subsidiary, Lithium de France.
Factor2 Energy, a young Duisburg-based company with a bold vision for clean power, has successfully closed its Seed funding round, raising €7.7 million in venture capital.
The French Development Agency (AFD) has signed a cooperation pact with Kenya to accelerate the development of geothermal energy across the East Africa region.
Integrated oil and gas company MOL is conducting geothermal exploration and has carried out 3D seismic surveys around the Danube Refinery in Hungary to assess the potential for geothermal utilisation.
Technology and engineering solutions supplier, Odfjell Technology, has partnered with Vercana, Vulcan Group’s drilling subsidiary, for major geothermal project in Germany.