Schlumberger and TEP create a geothermal project development company

PIPELINE | Schlumberger New Energy, a new Schlumberger business, and Thermal Energy Partners (TEP) announced that they have entered into an agreement to create STEP Energy, a geothermal project development company.


STEP Energy will leverage its partners’ expertise to develop efficient and profitable geothermal power generation projects, providing an opportunity to support a reliable supply of clean energy.


“Through GeothermEx, a Schlumberger company, we have acquired extensive knowledge of geothermal resource assessment and project design implementation,” said Ashok Belani, executive vice president, Schlumberger New Energy. “By combining our geothermal, subsurface and drilling expertise with TEP’s experience in project development and risk mitigation, we will develop de-risked and streamlined geothermal projects on a global scale.”


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