Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Positive Change in Geothermal Drilling

Positive Change in Geothermal Drilling

A $42 million investment in a new on shore drilling rig keeps Taupō-based Company MB Century at the forefront of their industry.

The new hydraulic hoist rig, under construction in Italy, is quieter, safer, smaller and more mobile than existing rigs in the company’s extensive suite of drilling equipment.

Following its arrival in New Zealand this August, the rig will be commissioned in a three-rig drilling operation to continue Contact Energy’s geothermal development program near Taupō.

A 30-month contract, recently signed between MB Century and Contact Energy, has a four year right of renewal and is considered significant in the industry.

Already a leader in the field of geothermal drilling and steam field design, MB Century is proud to bring new technology to New Zealand.

“The new rig will revolutionise the way we undertake geothermal drilling operations,“ says Deputy CEO Marcel Manders. “We’re committed to excellence, service and to providing quality and superior equipment. This new rig will be the most advanced in New Zealand.

“As well as having a smaller footprint, it integrates a range of hydraulic equipment and being largely automated, there is reduced risk and increased operating safety.”

Mr Manders says the new rig is faster to make operational, halving the number of days to that of existing rigs. As well, has the flexibility to operate in both geothermal and oil & gas environments and incorporates a range of cost effective and performance efficiencies.

MB Century prides itself in offering their staff continued professional development and from mid- June people, selected from existing crews, will travel to Italy for simulated training in a range of operating and maintenance areas associated with the new rig.

“It’s an exciting time for the drilling industry and our new rig gives staff an opportunity to advance their skills and develop professionally,” says Marcel Manders.


© Scoop Media

Business Headlines | Sci-Tech Headlines


What Lies Beneath: Is The Housing Market Turning?
Rising interest rates, combined with further tightening of credit availability appear to be dampening the enthusiasm of investors and first home buyers. While house values continue to rise, what lies beneath QV's latest figures is growing evidence that price pressure has shifted... More>>

R&NTU: KiwiRail strike notices withdrawn following new offer

Strike notices on KiwiRail have been withdrawn. Rail and Maritime Transport Union General Secretary Wayne Butson says following negotiations between the RMTU and KiwiRail, a new offer from KiwiRail will be taken back to union members for ratification... More>>

Banking: Stress Tests Show Strengthening Bank Resilience

The latest stress tests carried out by the Reserve Bank of New Zealand – Te Pūtea Matua show strengthening resilience in the banking sector and the benefits of continuing to build capital buffers... More>>

Reserve Bank: Deputy Governor Reflects On Time At RBNZ
Central bankers must continue to look forward to guard against the unpredictable, Deputy Governor Geoff Bascand says in a speech published today. Mr Bascand joined the Reserve Bank of New Zealand – Te Pūtea Matua in 2013 during the aftermath of the Global Financial Crisis... More>>

Xero: Data Reveals ICT Expenditure Key To Small Business Sales Growth
Xero, the global small business platform, today released a new report which shows New Zealand small business ICT expenditure has increased 25 percent compared to pre-pandemic levels - more than the UK (20%) and Australia... More>>

Fonterra: Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range, reported a solid start to the 2022 financial year and revised its earnings guidance... More>>

Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>