Global energy technology company SLB (NYSE: SLB) and leading geothermal developer Star Energy Geothermal, a subsidiary of Indonesia’s largest renewable energy company Barito Renewables (IDX: BREN), announced a collaboration agreement to accelerate advanced technologies for geothermal asset development.
The collaboration will combine Star Energy Geothermal’s extensive knowledge of geothermal development with SLB’s decades of experience developing and industrializing technology solutions for the energy sector. Working closely together, SLB and Star Energy Geothermal aim to deploy technologies that shift the economics of conventional geothermal projects and improve recovery rates of geothermal assets.
"In developing technologies for the geothermal industry, collaborating with customers is critical for focusing on the use cases with the most significant economic impact,” said Irlan Amir, vice president, Renewables and Energy Efficiency, SLB. “In an industry where the risks and levelized cost of energy are perceived to be high, we look forward to working with Star Energy Geothermal to deliver groundbreaking technologies that will lower project risks and improve the overall project economics of this clean, firm and flexible energy source."
SLB has previously worked with Star Energy Geothermal on technology solutions that optimize well placement and employ artificial intelligence (AI) to improve the efficiency and economics of drilling geothermal wells. Under the collaboration agreement, SLB and Star Energy Geothermal will focus on developing and deploying technologies for subsurface characterization, drilling and production of geothermal assets.
"Our vision is to be among the largest and leading geothermal companies in the world,” said Hendra Soetjipto Tan, president director of Barito Renewables and group CEO of Star Energy Geothermal. “Today, we proudly manage 886 MW of installed electricity capacity. Aligned with our strategic expansion to support energy transition, our goal will be enabled by leveraging advanced technologies to enhance the efficiency and economics of our current and future assets. With SLB’s breadth of technologies and our expertise in geothermal resource development and operations, we are confident that together we can solve the technical and economic challenges that are holding back the broader development of geothermal projects across the globe.”