Archer invests in renewable energy

As part of its long-term energy transition strategy, global oil services company, Archer Ltd has signed an agreement to acquire 50 per cent of the shares in renewable energy service specialist Iceland Drilling Company Ltd for a total consideration of US$8.25 million. Kaldbakur ehf. will remain a large shareholder and will own the other 50 per cent.

Oil & gas specialist Archer is starting to transition toward renewable energy sources with an investment in geothermal drilling business Iceland Drilling

09 August 2022
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Iceland Drilling is an international deep geothermal drilling and integrated well service company, with seven decades of experience and competence in both high and low temperature geothermal

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