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ADNOC Drilling Co. and the UAE renewable energy firm Masdar have signed a five-year MoU to explore geothermal energy opportunities as a means to drive clean energy transition.
In a statement on Tuesday, the companies said they will jointly evaluate the potential for ADNOC Drilling to provide geothermal drilling services.
Mohamed Jameel Al Ramahi, CEO of Masdar said, “This MoU with ADNOC Drilling further reinforces Masdar's commitment to unlocking clean energy opportunities across a wide range of technologies. With Masdar recently adding geothermal energy to our growing clean energy portfolio, we are excited about the important role that geothermal can
play in helping to drive forward the global energy transition..."
Masdar entered the geothermal energy sector in February with a strategic investment in Indonesia’s Pertamina Geothermal Energy (PGE), one of the world’s largest geothermal players.
ADNOC Drilling, a subsidiary of Abu Dhabi’s national oil company ADNOC, will act as a drilling technical expert and advisor to support Masdar’s deployment of geothermal energy around the world.
(Writing by Brinda Darasha; editing by Seban Scaria)
