The renewable energy company said in a statement over the weekend that Iceland Drilling Corp. will undertake the drilling activity for the $185-million Montelago project. Under a deal inked last April 20, IDC will drill at least two wells starting in July.
Iceland Drilling will use a Geysir Drillmec HH-20SS equipment -- a trailer mounted, fast moving, automatic, hydraulic rotary drilling rig with a drilling depth capability of 4,000 meters. The heavy-equipment has been previously used in a geothermal drilling project in Biliran.
Expected to be operational by 2016, the Montelago project straddles barangays Montelago, Montemayor and Melgar-B in the municipality of Naujan, Oriental Mindoro.
Read More.......
