geothermal

CeraPhi Energy Signs Exclusive Agreement with Halliburton 

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CeraPhi Energy has entered an exclusive drilling and intervention services agreement with Halliburton in exchange for in-kind engineering and project management support to the business.
CeraPhi Energy Signs Exclusive Agreement with Halliburton 
Courtesy of CeraPhi Energy.

The company turned to Halliburton for its global expertise in well engineering and its seven decades of geothermal experience as part of CeraPhi Energy’s plans to develop a global geothermal energy development company.

The initial focus of the agreement will be to support CeraPhi Energy’s existing opportunities of repurposing end-of-life oil and gas wells in the UK and USA. The companies expect the first project within the UK to commence before the end of the year.

The CeraPhi Energy team is focused on its front-end resource modelling. Halliburton will support the well engineering and development potential for CeraPhi Energy’s patented technology CeraPhiWell, a closed loop downhole heat exchanger that draws subsurface heat for different applications for scalable baseload energy including:

Low Temperature Climatised Agriculture

Medium Temperature Heat Networks

Medium Temperature Heating Systems and Industrial Processes

Desalination and Water Treatment

Power Generation

Green Hydrogen through Electrolysis

CeraPhiWell is at the heart of CeraPhi Energy’s strategy to de-risk geothermal energy scale-up using end-of-life and non-producing oil and gas wells and prove the “huge commercial potential” for geothermal energy production. CeraPhi Energy supports efforts to enable access to over 500 GW of additional geothermal energy by 2050 in line with the Paris 2050 Climate Accord for carbon reduction.

“This is a very exciting stage of CeraPhi Energy’s commercialisation and totally in line with our strategic plan to align ourselves with serious execution and delivery partners who believe in the tremendous opportunity for geothermal and have the ability to scale globally” said CeraPhi Energy CEO Karl Farrow. “Scaling this opportunity is key to reducing cost and making geothermal energy the baseload energy of choice everywhere for everyone. The oil and gas service sector is key to this transition and Halliburton has been in business for more than 100 years. They have been at the forefront of innovation and technology for well delivery, which is perfect for this collaboration. This collaboration is a natural fit and could be game-changing for geothermal‘ s role in the energy transition and have a revolutionary impact on onshore oil and gas sector’s late life and ‘orphaned’ wells.”

Steve Nowe, Senior Area Manager Halliburton Europe, added that the agreement will allow the company to deliver fully integrated solutions to reduce planning time, lower costs and optimise the value chain performance.

For additional information:

CeraPhi Energy

Halliburton

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