For Immediate Release North Tech Drilling ehf.
5 May 2023 Reykjavik, Iceland
North Tech Drilling expands activities in Iceland with advanced drilling rig and auxiliaries
Based in Reykjavik, Iceland, North Tech Drilling ehf. (“NTD”) has refocussed on its local roots to balance its recent successes in international markets. NTD has purchased an advanced drilling rig to support services to the rapidly expanding aquaculture sector. A second rig is also under contract due to the high and immediate demand for NTD’s services.
This high efficiency system has benefits lowering costs and time to completion while also ensuring clients can confirm they have taken all possible measures to exceed the new standards of low carbon footprint.
NTD was formed in 2017 to combine the best of Iceland’s geothermal drilling experts and operators with innovative equipment and techniques proven internationally. The company is at the forefront of “slim well” drilling, combined exploration-production well design and the integration of top-hole drilling with careful equipment selection.
Geir Hagalinson, CEO of NTD, noted that: “People often focus only on the rig, but the most efficient drilling operations integrate a range of critical equipment selected for the job at hand.” He continued “Just like racing cars or flying jets, the pilot matters and it is of course more important how you use equipment. We aim for the right balance of experience proven over decades of work in different countries and geology alongside new innovations in equipment, well design and operations.”
With active projects and joint ventures in Central Europe, South America, India, Japan and Indonesia, NTD has followed a well-proven strategy of exporting unique Icelandic expertise in geothermal. It is now bringing that international experience back home to address the significant drilling related to onshore salmon farms as well as continued geothermal work.
Based on stated plans by several companies in aquaculture and geothermal, the combined requirement will be several hundred new wells to be drilled in Iceland over the next several years. Following the announcement of NTD’s contract with HS Orka for geothermal drilling services at the Reykjanes Power Plant now underway, NTD will be announcing a series of new contracts for drilling work in Iceland and abroad.
North Tech Drilling ehf.
Geir Hagalinson, CEO
About North Tech Drilling ehf.
Headquartered in Reykjavik, Iceland with global operations, North Tech Drilling ehf. (“NTD”) is an experienced drilling services company focussed on geothermal, aquaculture and other specialised work. NTD provides turn-key drilling operations including high efficiency operations and lowest carbon footprint equipment, supervision, well design and other services are also provided. Clients include power generation operators, seafood producers and other large companies as well as government agencies and small to medium developers. Key personnel are drawn from leaders in geothermal drilling with decades of mission critical assignments in many countries and geologies.