SLB, Ormat Partner for Geothermal Energy

SLB, a technology leader in the oil and gas industry, has joined forces with renewable energy firm Ormat Technologies on geothermal development. This strategic collaboration aims to revolutionize the geothermal sector by reducing project risks, enhancing economic viability, and ensuring long-term performance, SLB said in a press release.

The partnership promises a comprehensive suite of geothermal solutions, encompassing everything from initial exploration and resource assessment to commissioning and operation of power plants. Developers will benefit from a one-stop shop, which would streamline the entire geothermal project lifecycle, SLB said.

SLB said it will bring its extensive experience in reservoir characterization, well construction, completions, and production technologies. Ormat will bring its proficiency in geothermal fields, project development, power plant design, manufacturing, operations, and EPC (engineering, procurement, and construction) capabilities.

SLB has over a century of experience in the subsurface environment and has been involved in 80 percent of the world’s geothermal projects. Meanwhile, Ormat is the world’s largest manufacturer of geothermal binary equipment and the second-largest global owner and operator of geothermal fields and power plants under management, SLB said.

“Geothermal energy represents a significant opportunity for the energy transition, providing clean, baseload renewable power,” said Irlan Amir, vice president for renewables and energy efficiency at SLB. “By combining our expertise with Ormat’s, we can help customers unlock the full potential of geothermal resources and accelerate the deployment of this sustainable energy source.”

“Ormat’s world-class geothermal development and technology expertise perfectly complements SLB’s significant reservoir knowledge and well construction technologies and expertise,” Paul Thomsen, vice president for business development at Ormat, said. “Together, we can deliver more projects, offering exceptional value to our developers and contributing to a cleaner energy future.”

The collaboration extends to enhanced geothermal systems and advanced geothermal solutions, with SLB acquiring a license for Ormat’s EGS patent, SLB said.

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