Nabors invests in the energy transition

Active in oil and gas drilling, Nabors Industries has announced its intention to invest in the energy transition with its portfolio of Nabors Energy Transition Solutions technologies to improve energy efficiency and reduce emissions.

Currently, the portfolio used by the company and its customers includes proprietary emissions reporting and analysis software, engine management controls, energy storage systems, hydrogen injection catalysts and additives. improving fuel. This is in addition to the traditional high horsepower and dual fuel offerings.

Carbon capture technology is also part of this technology portfolio. Siggi Meissner, president of Nabors, energy transition and industrial automation, told Reporter-Telegram that the company is using the expertise in enhanced oil recovery fueled by carbon dioxide that it and its customers have acquired and used in different areas. outside the Permian Basin.

About this portfolio, Meissner told Reporter-Telegram via email that verifying and validating shows is “the first step that everyone should take in order to assess where you are at and identify opportunities. improvement. Once this is defined, energy efficiency and emission reduction solutions can be implemented. “

He added that each solution is of equal importance and will be applied depending on the requirements and operating conditions.

Going forward, Nabors plans to extend these technologies beyond drilling to the broader upstream segment and is also exploring opportunities to extend some of these solutions beyond oil and gas to other industries. For example, the hundreds of thousands of motors used in marine applications and power generation.

Nabors has also engaged in venture capital investment opportunities to penetrate potential high growth markets in emerging low carbon markets. Initial targets include alternative energy sources such as geothermal and hydrogen, energy storage and carbon capture, including utilization and sequestration technologies.

“Nabors as a company has always had in its DNA to differentiate itself from the competition and having a portfolio of solutions to support this certainly aligns with this vision,” Meissner wrote. “As we began to expand in this space, we identified other business opportunities and the possibility of expanding into different business areas such as geothermal energy. “

To date, Nabors has partnered with three leading geothermal companies, Geo-X Energy, SAGE Geosystems and Quaise Inc, to deepen its existing geothermal experience and evaluate new business models. Nabors leverages its global footprint, in-depth knowledge of subsoil conditions and expertise in well construction to advance and accelerate geothermal technologies and projects globally.

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