EXPRO SECURES INTEGRATED SERVICES GEOTHERMAL CONTRACT FOR DEUTSCHE ERDWÄRME’S GRABEN-NEUDORF PROJECT
HOUSTON – July 20, 2022 - Leading energy services provider Expro (NYSE: XPRO) has secured a contract for its first integrated services package to support a high-profile geothermal project in the Upper Rhine Graben area of SW-Germany.
A consortium formed by Ed. Züblin AG and Huisman Geo B.V, drilling and geothermal energy specialists, have commissioned Expro to deliver an integrated well services program for a new geothermal power plant in the Upper Rhine valley. This eight well contract for Germany’s largest private developer of geothermal energy plants, includes well construction services and a bespoke high-rate surface well test system.
The contract which began in June 2022 has the potential for a long-term extension to follow the eight-well drilling and testing campaign of Deutsche ErdWärme (DEW) across four power plants that is that covered by the initially contracted work scope.
As part of its long-term strategy, Expro plans to continue to invest in transforming its business portfolio and reducing its greenhouse gas emissions. The Company, which recently published its environmental, social and governance (ESG) review, has also a stated aim of achieving Net Zero by 2050 with a 50% reduction in carbon intensity by 2030.
A member of the International Geothermal Association and the European Geothermal Energy Council, Expro has been supporting geothermal well services projects since 1986 and is recognized for its cost-effective, innovative solutions. This latest contract builds on the Company’s strategic desire to help customers unlock new sources of cleaner, low-carbon energy and enhance its support of the global geothermal market.
Steve Russell, Expro’s Chief Technology Officer, commented:
“This is a significant award for Expro and strengthens our position as an integrated services provider to the growing and increasingly important geothermal sector. Expro has been delivering discrete services to the geothermal market for many years. This project provides Expro with an opportunity to demonstrate its ability to deliver a bespoke, project-specific well services package for our customers’ particular requirements. This contract also demonstrates our enhanced offering and capabilities in the geothermal sector and our commitment to a more sustainable and lower carbon future.”
Sebastian Homuth, Well Operation Manager, Deutsche ErdWärme, said:
“We are delighted to see well established oil and gas service companies like Expro showing real interest in the geothermal sector. The customer-oriented approach and dedicated back-office engineering expertise in conjunction with the broad experience in the execution of all kinds of well testing operations is exactly what our industry and DEW is looking for.”
Martin Geissler, Project Manager, JV Drilling Campaign Rheingraben, Ed. Züblin AG – Huisman Geo B.V, commented:
“We are very happy to have found a professional and well-established partner in Expro for the execution of this exciting geothermal project. Expro's many years of experience, solution-oriented approach and great commitment were evident from the first meeting and are a great asset for the project. We are very much looking forward to a successful co-operation.”
Ingrid Huldal, Expro’s Director, Portfolio Advancement, commented:
"We are very pleased to have been awarded this significant contract and look forward to collaborating with both Deutsche ErdWärme and the JV Drilling Campaign Rheingraben, Ed. Züblin AG – Huisman Geo B.V to provide high caliber well services and drilling support for their geothermal project. This is a key strategic opportunity for Expro as we look to expand our current portfolio and develop a more sustainable business. The geothermal industry will play an important role in the provision of clean energy security for our future. We are committed to helping our clients achieve their sustainability goals and reducing our own environmental impact."
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