Icelandic Drilling Signs Contract in Azores Skip to content

Icelandic Drilling Signs Contract in Azores

The subsidiary of Iceland’s Jardboranir in the UK, Iceland Drilling, has signed an agreement with energy companies Sogeo and GeoTerceira in the mid-Atlantic Azores islands on experimental drilling in geothermal areas on the islands, as announced this week.

According to Jardboranir, it is the largest contract of this kind in the Azores; its worth is estimated at up to ISK 1.8 billion (USD 14.8 million, EUR 11.8 million).

Energy harnessing in the Azores.

The experimental drilling project will be undertaken on the islands of Sao Miguel and Terceira and geothermal energy will potentially be used for producing electricity.

CEO of Jardboranir Bent S. Einarsson said in a statement that his company is well prepared to undertake the project, both because of its earlier operations in the Azores and because of their experience in drilling in high temperature geothermal areas in Iceland under difficult circumstances.

According to Einarsson, the goal is for geothermal energy to cover 40 percent of the energy needs of the two islands. He said the project is supported by the European Union considering that it may increase the Azores’ sustainability by sourcing green energy.

In March 2008, Jardboranir became the first Icelandic contractor to receive certification from the British Standard Institute (BSI); certifying that its quality control system fulfils the demands of the ISO 9001:2000 standard.

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