According to Zhitong Finance App, Kaishan Co., Ltd. (300257.SZ) issued an announcement. Recently, the company and Halliburton Energy Services, Inc. (hereinafter referred to as “Halliburton”) signed a “Memorandum of Strategic Cooperation” in Loxley, Alabama. Based on their unique advantages in the energy sector, the two sides have established a deep strategic partnership with the aim of jointly promoting innovation and application of low-carbon energy technology.
Halliburton will utilize its global leadership in high temperature and high pressure complex well construction, targeted drilling, fracturing and digital intelligent drilling technology; the company will rely on accumulated experience in modular geothermal power generation equipment manufacturing, comprehensive development of the entire geothermal industry chain (covering from resource detection to project operation), and green hydrogen ammonia project development. The two sides will jointly explore high-efficiency and low-cost EGS drilling and power generation solutions.
The two sides intend to seek cooperation opportunities in specific low-carbon and renewable energy projects, including but not limited to geothermal energy development and related emerging energy fields. Areas of cooperation include enhanced geothermal system (EGS) development, drilling optimization, integrated engineering execution of geothermal projects, digital drilling and underground optimization technology, green hydrogen production, green ammonia projects, and related clean energy infrastructure. The above cooperation forms a “strategic partnership” between the two parties. Around this strategic partnership, the two sides will also explore the deployment of modular geothermal power generation systems and study the possibility of integrating Halliburton's drilling technology with Kaishan's power generation equipment.
The two parties agree that this Memorandum of Understanding will only be used to clarify the scope and areas of cooperation for the development of strategic partnerships. Both parties should explore and evaluate potential project opportunities from time to time, exchange technical knowledge and best practices, and jointly consider project strategies and execution plans. Any specific project, cooperation mechanism, or commercial terms will need to be separately negotiated and confirmed in writing in a future final agreement, which may include a “Strategic Agreement” and/or a “Master Services Agreement”.