SLB Teams Up With Star Energy Geothermal To Advance Geothermal Tech: Details

Schlumberger N.V. SLB, a global energy technology company, and Star Energy Geothermal, a subsidiary of Indonesian renewable energy company Barito Renewables, entered into a partnership to boost geothermal technology.

This collaboration is designed to enhance the cost-effectiveness and operational efficiency of geothermal projects, concentrating on boosting recovery rates and minimizing project-related risks.

This partnership integrates Star Energy Geothermal’s geothermal development knowledge with SLB’s energy technology solutions expertise.

This partnership follows previous joint efforts by SLB and Star Energy Geothermal to optimize geothermal well placements and incorporate artificial intelligence for improved drilling efficiency.

Going forward, the two companies will focus on advancing technologies for subsurface characterization, drilling, and geothermal asset production.

“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,” said Vice President of Renewables and Energy Efficiency at SLB, Irlan Amir.

Last week, SLB reported fourth-quarter results, with revenue rising 3% year over year to $9.28 billion and adjusted EPS increasing 7% to 92 cents.

JP Morgan analyst Arun Jayaram recently highlighted that SLB is rapidly advancing the use and integration of digital technologies, recognizing it as a major driver of growth for the company.

Price Action: SLB shares are trading lower by 2.2% at $42.78 at the last check Wednesday.

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