The two companies have agreed to fast-track the development and commercialisation of integrated geothermal assets, including an EGS pilot project at an Ormat site.
Together, SLB and Ormat will streamline project deployment, from their concept to power generation. As part of the agreement, they will develop, pilot and scale EGS solutions to enable wide-scale adoption.
Gavin Rennick, President of New Energy at SLB, said, “There is an urgent need to meet the growing demand for energy driven by AI and other factors. This requires accelerating the path to clean and reliable energy. By partnering with Ormat, we will work to make both traditional hydrothermal and EGS technologies truly competitive and commercially viable systems that can scale quickly to meet global energy demand through the coming decades.”
“Ormat is pleased to partner with SLB to accelerate the development and deployment of integrated geothermal assets and next-generation EGS solutions,” said Doron Blachar, Chief Executive Officer at Ormat.
“By bringing together the world's leading experts in subsurface and geothermal power plant technologies, Ormat and SLB will accelerate the path to rapid deployment of commercial scale EGS facilities. Our collaboration aims to advance the commercial viability of EGS technologies and represents a significant step forward in the geothermal industry.”
The first joint project will fast-track the deployment of a complete set of new technologies and techniques needed for EGS, as well as optimising integration with surface facilities to maximise production and sustainability.