Iceland Drilling in discussions on drilling contract in Malaysia
Sandakan, Sabah, Malaysia (source: flickr/ timparkinson, creative commons)
Alexander Richter
10 Feb 2014
Iceland Drilling is currently in discussions on a drilling contract for the 30 MW Apas Kiri geothermal project, the first in Malaysia.
Geothermal drilling company Iceland Drilling is in talks on a drilling contract for the geothermal project of TGE Power in Malaysia.
According to the CEO of Iceland Drilling, Baldvin Thorsteinsson, discussions are ongoing for a drilling contract for the first phase of the development of the 30 MW geothermal power project, the first in Malaysia. It is located at Apas Kiri, Malaysia and is expected to come online in 2016 at an estimated cost of $155 million.
“The project in Malaysia will include all services connected to the drilling part of the project for this new customer of Iceland Drilling. We hope that this project will take around three to four years, but drilling results of the first well will likely determine that”, so Thorsteinsson.
Iceland Drilling is currently working on drilling projects in the Philippines, and the Caribbean island states of Dominica and Montserrat. Under investigation is also a possible project in Ethiopia in cooperation with Icelandic developer Reykjavik Geothermal.
For the company, there were little opportunities within Iceland since 2009 and this is why the company had to look for work and opportunities internationally.
Source: Visir.is
