MAIBARARA GEOTHERMAL, Inc. (MGI) has awarded a drilling contract to ThermaPrime Drilling Corp. (TDC) for its geothermal exploration program in Batangas and Laguna.

In a statement on Wednesday, MGI said TDC will drill exploration wells to planned depths of 2,100 meters to 3,000 meters in accordance with international safety and operational standards.

Drilling is scheduled to begin in September, with the campaign targeted for completion by May 2027.

MGI said the contract is part of the early-stage work needed to assess and develop geothermal resources, a process that typically requires specialized equipment and experienced crews because the first wells can carry some of the most complex technical risks in the sector.

MGI is a joint venture of PetroGreen Energy Corp. (65%), ACEN Corp. (25%), and PNOC Renewables Corp. (10%).

MGI Executive Vice-President and Chief Operating Officer Maria Victoria M. Olivar said geothermal development requires significant upfront investment, long lead times, and entails technical risks.

“We are thus pleased to tap ThermaPrime with its highly-skilled and experienced workforce and well-maintained rig and equipment in our drilling campaign where some of the initial and most complicated risks in geothermal energy development are often encountered,” she said.

Established in 2010, TDC provides geothermal well drilling services. The company said it has drilled wells as deep as 3,600 meters and has completed more than 1,000 geothermal drilling and workover operations.

TDC is a wholly owned subsidiary of First Balfour, Inc., a member of the Lopez Group.

TDC President and Chief Operating Officer Antonio Mabasa said the company will support MGI’s expansion plans, which are aligned with its goal of advancing a decarbonized and regenerative future. — Sheldeen Joy Talavera