GEOTHERMAL DRILLING CONTRACT AWARDED IN ICELAND TO A JV OF HYDRO DRILLING AND NORTHERN DRILLING TECHNOLOGIES (NTD)
A contract for drilling 35 geothermal wells (with possible extensions) with USD 33 Million value was awarded by Orkuveitan (aka Reykjavik Energy) and their subsidiary Veitur Utilities to a Joint Venture of HD and NTD in December 2024. It is the largest such contract for geothermal drilling in Iceland this year and one of the largest of all time.
A one-year-old Joint Venture of NTD and HD combines the Icelandic roots and a vast international experience of NTD senior staff with Hydro Drilling renowned drilling and engineering services platform incorporating decades of experience in Italy, elsewhere in Europe and Africa. Hydro Drilling is one of the leaders in knowledge transfer from oil and gas services to the geothermal sector.
