New $42m rig for Taupo firm

A Taupo company is investing $42 million in a new drilling rig to revolutionise its geothermal drilling operations.

MB Century has a new hydraulic hoist rig under construction in Italy that deputy chief executive Marcel Manders says will be quieter, safer, smaller and more mobile than its existing rigs.

The new rig will arrive in New Zealand in August and will be commissioned as part of a three-rig drilling operation as part of Contact Energy's geothermal development programme near Taupo.

MB Century and Contact have signed a 30-month contract, with a four-year right of renewal, which he said was significatn in the industry.

Manders said the company was already a leader in geothermal drilling and steam field design and was proud to bring new technology to New Zealand.

"The new rig will revolutionise the way we undertake geothermal drilling operations. 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."

Manders said the new rig could be made operational in half the time needed for existing rigs and had the flexibility to operate in geothermal, oil and gas environments.

 

From mid-June selected members of existing crews will travel to Italy for simulated training for operating and maintenance the new rig.