Saipem accelerates research and development into geothermal energy

Saipem has signed a Memorandum of Understanding (MoU) with Geolog and Ignis H2 Energy to advance solutions for geothermal energy, aligning with its strategy for energy transition. The objective is to develop innovative technological solutions and conduct feasibility studies for new geothermal plants, aiming to harness clean and renewable energy in Italy and globally.

On October 7, 2024, in Milan, Saipem formalized this agreement with Geolog, which specializes in geological formation evaluation and drilling solutions, and Ignis H2 Energy, focused on acquiring, exploring, and developing geothermal resources. This initiative is part of Saipem's research and development program dedicated to providing technological solutions for energy transition, with an emphasis on geothermal energy, a renewable resource that utilizes the Earth's natural heat.

Saipem’s primary areas of interest include next-generation geothermal systems, offshore geothermal energy, and the repurposing of oil and gas wells. The MoU entails joint studies on unconventional geothermal energy sources, including hard-to-access terrestrial heat and offshore geothermal resources abundant in the Mediterranean basin.

Saipem will spearhead the feasibility study for geothermal plants, evaluating current technical solutions and identifying any technological gaps. Geolog and Ignis will contribute their expertise in assessing geological formations and drilling solutions, as well as analyzing the availability of geothermal resources.

Geothermal energy is recognized as a strategic resource in the energy transition due to its reliability as a continuous renewable energy source; however, it remains underutilized relative to its full potential. Saipem aims to leverage its technical expertise and innovative capabilities to propose effective solutions to support this sector's growth.

With extensive experience in developing conventional geothermal projects and wells since the 1970s, both in Italy and globally, Saipem is well-positioned for this venture, backed by its strong track record in offshore operations, drilling, and floating plant construction.

As a global leader in engineering and construction for the energy and infrastructure sectors, Saipem operates both offshore and onshore. The company is organized into business lines, including Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures, and Robotics & Industrialized Solutions. Saipem operates seven fabrication yards and an offshore fleet of 21 construction vessels, alongside 15 drilling rigs. Committed to technological innovation and sustainability, Saipem aims to assist its clients in their transition to Net Zero through increasingly digital processes and environmentally friendly technologies. Listed on the Milan Stock Exchange, Saipem operates in over 50 countries and employs approximately 30,000 people from over 120 nationalities.