Italian engineering and oilfield services company Saipem has signed a Memorandum of Understanding to explore innovative solutions for the development of geothermal energy with Geolog, a leading company in the evaluation of geological formations and drilling solutions, and Ignis H2 Energy, a company specialized in the acquisition, exploration and development of geothermal sources.

The agreement is part of Saipem’s research and development program dedicated to offering technological solutions for the energy transition, including geothermal energy. The aim of the partnership is to develop advanced solutions that can enable greater use of geothermal energy, both in Italy and internationally. In particular, Saipem’s three main areas of interest are next-generation geothermal systems, offshore geothermal energy, and the reconversion of oil & gas wells.

The Memorandum of Understanding provides that the three companies will conduct joint studies on unconventional geothermal energy, i.e. terrestrial heat sources that are difficult to access and therefore still poorly exploited, and on offshore energy, which for example is abundant in the Mediterranean basin.

Saipem had previously entered a similar cooperation agreement with National Institute of Geophysics and Volcanology in Italy.

Saipem will study the feasibility of geothermal plants, evaluating the technical solutions currently available on the market and identifying any technological gaps. Geolog and Ignis will contribute their expertise to evaluate geological formations and drilling solutions, as well as to analyze for the availability of geothermal resources. Ignis Energy is very active in several geothermal exploration projects in Türkiye and Alaska.

Geothermal energy is a strategic resource in the energy transition process as it is a reliable and continuous source of renewable energy, but still little used compared to its real potential. Saipem, thanks to its specialist skills and innovation capacity, aspires to propose reliable and innovative solutions to support the development of this sector. The company offers its vast experience in the development of conventional geothermal projects and geothermal wells carried out in Italy and internationally since the 70s, as well as in the offshore, drilling and floating plant construction sectors.