Maibarara Geothermal Inc. (MGI) on Tuesday signed a contract with Desco Inc. for the provision of a drilling rig and services for MB-17RD, a new reinjection well in MGI’s Maibarara geothermal field in Santo Tomas, Batangas.
In a disclosure in Philippine Stock Exchange (PSE), MGI said that the well is intended to be spudded by the last week of May and programmed to reach a total depth of 1,900 meters.
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