North Tech Drilling acquires new drilling rig to support expanded geothermal activities

Advanced drilling rig to support the rapidly expanding aquaculture sector. (source: North Tech Drilling)

Based in Reykjavik, Iceland, North Tech Drilling ehf. (“NTD”) has refocused on its local roots to balance its recent successes in international markets. NTD has purchased an advanced drilling rig to support services to the rapidly expanding aquaculture sector. A second rig is also under contract due to the high and immediate demand for NTD’s services.

This high efficiency system has benefits lowering costs and reducing time to completion while also ensuring clients can confirm they have taken all possible measures to exceed the new standards of low carbon footprint.

NTD was formed in 2017 to combine the best of Iceland’s geothermal drilling experts and operators with innovative equipment and techniques proven internationally. The company is at the forefront of “slim well” drilling, combined exploration-production well design and the integration of top-hole drilling with careful equipment selection.

Earlier this year, HS Orka signed an open contract with NTD for the supervision and consultancy for drilling activities, as well the necessary planning and preparation needed prior to the start of designated HS Orka drilling projects.

With active projects and joint ventures in Central Europe, South America, India, Japan and Indonesia, NTD has followed a well-proven strategy of exporting unique Icelandic expertise in geothermal. It is now bringing that international experience back home to address the significant drilling related to onshore salmon farms as well as continued geothermal work.

Based on stated plans by several companies in aquaculture and geothermal, the combined requirement will be several hundred new wells to be drilled in Iceland over the next several years. Following the announcement of NTD’s contract with HS Orka for geothermal drilling services at the Reykjanes Power Plant now underway, NTD will be announcing a series of new contracts for drilling work in Iceland and abroad.

“People often focus only on the rig, but the most efficient drilling operations integrate a range of critical equipment selected for the job at hand,” commented Geir Hagalinsson, CEO of NTD. “Just like racing cars or flying jets, the pilot matters and it is of course more important how you use equipment. We aim for the right balance of experience proven over decades of work in different countries and geology alongside new innovations in equipment, well design and operations.”

Source: North Tech Drilling