SLB Collaborates with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority on Geothermal Resource Development
16 November 2022 - 2:00PM
Business Wire
Industry-leading geothermal expertise enabled evaluation of
countrywide geothermal potential to explore decarbonization
pathways
Regulatory News:
SLB (NYSE: SLB) is collaborating with Oman’s Ministry of Energy
and Minerals and the Oman Investment Authority in building a
national strategy to develop the potential of Oman’s geothermal
resources.
This announcement follows the completion of an extensive project
to evaluate data from more than 7,000 oil, gas and water wells,
with the objective of mapping sweet spots for geothermal prospects
in the country. Commissioned by the Omani authorities, the SLB
experts assessed surface, subsurface and well data from the
national data repository over a three-month period.
“Geothermal is one of the world’s most promising clean energy
resources, and it has a crucial role to play in reaching net-zero
targets,” said Gavin Rennick, president of SLB’s New Energy
business. “Using digital technology solutions to assess geothermal
resource potential can accelerate prospectivity analysis and,
ultimately, the delivery and performance of geothermal
installations. We are excited to work with the Ministry of Energy
and Minerals and the Oman Investment Authority to explore
decarbonization pathways for Oman.”
In the initial phase of the collaboration, SLB’s GeothermEx
multidisciplinary geothermal consulting team used a proprietary AI
solution to expedite assessment, sorting, and evaluation of the
huge volume of data from the Oman Oil & Gas Data Repository
(OGDR), and delivered a comprehensive assessment of Oman’s
geothermal potential. The next phase will include assessment of the
economic feasibility of the development of potential geothermal
resources.
“This collaboration between the Ministry of Energy and Minerals,
Oman Investment Authority and SLB is in line with Oman’s efforts to
decarbonize the energy sector, achieve its Net Zero goal, and
implement Oman Vision 2040. Building on existing country data and
infrastructure, this collaboration will create opportunities by
utilizing the latest technologies in the field of geothermal
exploration and ramp up activities in Oman’s clean energy stream.
We are glad to work with SLB given the extensive global experience
in this field,” said HE Salim Al Aufi, the Omani Minister of Energy
and Minerals.
About SLB
SLB (NYSE: SLB) is a global technology company that drives
energy innovation for a balanced planet. With a global footprint in
more than 100 countries and employees representing almost twice as
many nationalities, we work each day on innovating oil and gas,
delivering digital at scale, decarbonizing industries, and
developing and scaling new energy systems that accelerate the
energy transition. Find out more at slb.com.
About Oman Investment Authority (OIA)
Oman Investment Authority (OIA) is Oman’s sovereign wealth fund,
and it is entrusted with managing, investing, and developing the
Sultanate’s national and international assets. It has diverse
investment portfolios both nationally and internationally, whereby
it invests in over 40 countries across various sectors including
food, energy, logistics, ICT, public services, finance and
investment, food security, tourism, mining, industry, and
aviation.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the U.S. federal securities laws — that is,
statements about the future, not about past events. Such statements
often contain words such as “expect,” “may,” “can,” “estimate,”
“intend,” “anticipate,” “will,” “potential,” “projected" and other
similar words. Forward-looking statements address matters that are,
to varying degrees, uncertain, such as forecasts or expectations
regarding the deployment of, or anticipated benefits of, SLB’s New
Energy technologies and partnerships; statements about goals, plans
and projections with respect to sustainability and environmental
matters; forecasts or expectations regarding energy transition and
global climate change; and improvements in operating procedures and
technology. These statements are subject to risks and
uncertainties, including, but not limited to, the inability to
achieve net-negative carbon emissions goals; the inability to
recognize intended benefits of SLB’s New Energy strategies,
initiatives or partnerships; legislative and regulatory initiatives
addressing environmental concerns, including initiatives addressing
the impact of global climate change; the timing or receipt of
regulatory approvals and permits; and other risks and uncertainties
detailed in the companies’ public filings, including SLB’s most
recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S.
Securities and Exchange Commission. If one or more of these or
other risks or uncertainties materialize (or the consequences of
such a development changes), or should underlying assumptions prove
incorrect, actual outcomes may vary materially from those reflected
in our forward-looking statements. The forward-looking statements
speak only as of the date of this press release, the parties
disclaim any intention or obligation to update publicly or revise
such statements, whether as a result of new information, future
events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221115006554/en/
Media Moira Duff – Director of External Communication,
SLB Tel: +1 (713) 375-3407 Email: media@slb.com
Investors Ndubuisi Maduemezia – Vice President of
Investor Relations, SLB Joy V. Domingo – Director of Investor
Relations, SLB Tel:+1 (713) 375-3535 Email:
investor-relations@slb.com
Schlumberger (NYSE:SLB)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Schlumberger (NYSE:SLB)
Historical Stock Chart
Von Jul 2023 bis Jul 2024