MB Century sells Rig 32 to Webster Energy Services: what the move means for New Zealand geothermal drilling MB Century and Webster Energy Services have agreed the sale of MB Century’s Drillmec HH350 drilling rig, Rig 32, with completion slated for December 2026 after the rig finishes its current campaign for Tūaropaki Power Company. The transaction signals a strategic shift for MB Century,moving away from direct drilling ownership toward concentrating on engineering, reservoir and technical services,while Webster Energy uses the acquisition to deepen its footprint in the New Zealand geothermal market. This article summarises the deal, then drills into the operational, market and workforce implications for New Zealand’s geothermal sector, the strategic logic for both companies, and what the transaction suggests about capacity, competition and future drilling trends. Deal overview and timeline Parties: MB Century (seller) and Webster Energy Services (buyer). - Asset: Drillmec HH350 rig k...
Turkana County Government and Geothermal Development Company Sign Collaborative Framework Agreement for Geothermal Development By : Robert Buluma In an exciting development for the region, the Turkana County Government and the Geothermal Development Company GDC have signed a groundbreaking Collaborative Framework Agreement (CFA). The agreement marks a major milestone in the pursuit of harnessing Turkana County’s geothermal potential, opening doors to significant economic growth and opportunities for the local community. Key Areas of Collaboration The CFA outlines several strategic areas where both parties will collaborate to unlock the full potential of Turkana's geothermal resources. These key points include: Joint Marketing of Geothermal Opportunities : Both parties will work together to promote and market geothermal opportunities in the region to attract investment and expertise. Collaboration in Scientific Surface Studies : A strong focus will be placed on conducting in-d...