Masdar partners with ADNOC Drilling for geothermal exploration

The energy firm entered the geothermal market with its investment in Indonesia.

Masdar signed a five-year memorandum of understanding with ADNOC Drilling Company for the development of the energy firm’s geothermal energy capacity globally.

In a statement, Masdar said the memorandum includes exploring partnership for investment and the operations of potential projects.

ADNOC will serve as the drilling technical expert and Masdar’s advisor for geothermal expansions.

Masdar expanded its foothold to the geothermal sector with its strategic investment in Indonesia’s Pertamina Geothermal Energy.