CeraPhi Energy has signed an agreement to provide drilling and intervention services to Halliburton in exchange for in-kind engineering and project management support.
UK-based CeraPhi is looking to take advantage of the US oilfield services group’s “seven decades of geothermal experience” to help with plans to generate a global geothermal energy development company.
The first port of call for this deal is to support the company’s existing opportunities of repurposing end-of-life oil and gas wells in the UK and USA.
The firms expect the first project within the UK to commence before the end of the year.
Halliburton will support the well engineering and development potential for CeraPhi Energy’s patented technology CeraPhiWell which is a closed loop downhole heat exchanger.
Drawing subsurface heat, this project can be used in different applications for scalable baseload energy including; low temperature climatised agriculture, medium temperature heat networks, medium temperature heating systems and industrial processes, desalination and water treatment, power generation and green hydrogen through electrolysis.
CeraPhi is currently focused on its front-end resource modelling.
The firm recently launched a funding round to raise over £12 million as it plans to expand its operations overseas.
Chief executive at CeraPhi, Karl Farrow, said: “This is a very exciting stage of CeraPhi Energy’s commercialisation and totally in line with our strategic plan to align ourselves with serious execution and delivery partners who believe in the tremendous opportunity for geothermal and have the ability to scale globally.
“Scaling this opportunity is key to reducing cost and making geothermal energy the baseload energy of choice everywhere for everyone.
“The oil and gas service sector is key to this transition and Halliburton has been in business for more than 100 years.
“They have been at the forefront of innovation and technology for well delivery, which is perfect for this collaboration.
“This collaboration is a natural fit and could be game-changing for geothermal‘ s role in the energy transition and have a revolutionary impact on onshore oil and gas sector’s late life and ‘orphaned’ wells.”
Senior Area Manager Halliburton Europe, Steve Nowe, added: “We are pleased to build on our decades of global geothermal business to collaborate with CeraPhi Energy to deliver and maximise the value of their geothermal wells.
“This agreement will allow us to deliver fully integrated solutions to reduce planning time, lower costs and optimise the value chain performance.”
