News

MB Century invests $34m into new drilling rig for NZ contract

MB Century drilling rig on site in Taupo, NZ (source: MB Century)
Alexander Richter 8 Apr 2012

MB Century is awaiting a new drilling rig from Italy to revolutionize its geothermal drilling operations in New Zealand under a 30-month contract with Contact Energy in Taupo.

Reported last month, MB Century is investing NZ$42 million (US$34 million) into a new drilling rig. The company hopes the new rig to revolutionize its geothermal drilling operations in New Zealand.

The rig is currently under construction in Italy and is – so the company’s CEO Marcel Manders – expected to be smaller, more mobile, less noisy and safer in operation. (the author assumes this to be a Drillmec drilling rig, of which the company already operates some)

The rig is expected to arrive in August this year. MB Century has recently signed a 30-month drilling contract, with a four-year right of renewal, that includes three drilling rigs working as part of the geothermal development near Taupo New Zealand by Contact Energy.

Source: Rotorua Daily Post