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...
Iran’s First Geothermal Power Plant Connects to the National Grid, Marking a New Era in Clean Energy
Iran’s First Geothermal Power Plant Connected to the Grid: What Meshgin-Shahr Means for the Country’s Energy Future Image: A thematic image of a geothermal power plant Iran has taken a notable step in clean power with the Meshgin-Shahr geothermal plant in Ardabil province, which has now been connected to the national electricity grid and begun generating electricity. The first phase is 5 MW, supported by a reported investment of 10 million euros, while the broader geothermal reservoir is described as having a potential production capacity of about 250 MW. A Landmark for Iranian Geothermal The significance of this project goes beyond the first megawatts delivered to the grid. It marks Iran’s formal entry into commercial geothermal power generation at a time when many countries are looking for firm, low-carbon electricity that does not depend on weather conditions. According to the report, the plant is being developed by the Thermal Power Generation Holding Company and is loca...