Iceland Drilling starts drilling again for San Jacinto project in Nicaragua

Iceland Drilling starts drilling again for San Jacinto project in Nicaragua Highly mobile HH300 Drillmec Rig TYR, Kawerau, New Zealand (source: Iceland Drilling)
Alexander Richter 16 Jun 2017

Under a new contract, Iceland Drilling has started drilling additional wells for the San Jacinto-Tizate project of Polaris Infrastructure in Nicaragua.

In a release today, a recently signed drilling agreement was made public.  The drilling contract was signed by Polaris Energy Nicaragua, and geothermal drilling specialist Iceland Drilling Company (IDC) to drill addtional wells at the San Jacinto-Tizate Geothermal Power plant in Nicaragua.

In 2016, three new wells were drilled by the company and a workover conducted for four existing wells.

The current project started last month and already last week the first well 2,071.6m MD, has been completed successfully.  Sigurdur Sigurdsson the CEO of Iceland Drilling hopes to continue drilling in Nicaragua, for new geothermal project in the country.

The drilling area is located in northwestern Nicaragua, in the community of San Jacinto, municipality of Telica, 20 km from the city of Leon.

Iceland Drilling is using its Drillmec HH-300 rig for the project in Nicaragua.

Iceland Drilling Company Ltd (IDC) is a leading company in the field of high temperature deep geothermal drilling and has many decades of experience in both high and low temperature drilling. The company operates internationally, and possesses a fleet of new hydraulic rigs and modern drilling equipment that can be transferred swiftly from one part of the world to another.

The company has well-grounded expertise in international deep drilling projects, with a record of several hundred high temperature geothermal wells.

The company’s operations have been in the Azores (Portugal), UK, Denmark, Ireland, Hungary, Germany, Nicaragua, Philippenes, Caribbean, (Dominica and Montserrat) Switzerland and in New Zealand.  Currently the company is working in Iceland, Caribbean and Nicaragua.

Polaris Energy Nicaragua is a subsidiary of Polaris Infrastructure Inc., company traded in the Toronto Stock Exchange under the symbol PIF. PENSA operates and owns the San Jacinto-Tizate Geothermal Central, with an installed capacity of 77 MW.

PENSA is one of the largest producers of renewable energy in Nicaragua, which has contributed to the change of the energy matrix of Nicaragua.


Source: company release by mail