Maibarara Geothermal Advances Expansion With New
Exploratory Drilling Program
The Philippines' pursuit of cleaner and more reliable energy
is set to gain momentum as Maibarara Geothermal Inc. (MGI) prepares to expand
its geothermal resource base in Batangas and Laguna through a major exploratory
drilling campaign.
MGI has awarded the drilling contract to ThermaPrime
Drilling Corp. (TDC), a subsidiary of First Balfour Inc. under the Lopez Group.
The project will focus on evaluating untapped geothermal zones within the
Maibarara geothermal field, providing critical geological data that will
determine whether additional power generation facilities can be developed in
the future.
Unlike power plant construction, geothermal exploration
serves as the foundation of every successful renewable energy project. It is
comparable to conducting a detailed underground survey before constructing a
skyscraper. Without confirming the stability and capacity of the resource
beneath the surface, investing in large-scale infrastructure would carry
significant financial and technical uncertainty.
As part of the agreement, ThermaPrime will deploy a drilling
rig capable of reaching depths between 2,100 and 3,000 meters. The campaign
covers three confirmed exploratory wells and one contingent well, with all
operations expected to comply with internationally recognized safety and
operational standards.
Project mobilization is scheduled to begin in September,
while drilling activities are expected to commence in October. The exploration
program is projected to conclude by May 2027, after which the findings will
guide future decisions on expanding geothermal power generation within the
Maibarara concession.
MGI Executive Vice President and Chief Operating Officer
Maria Victoria Olivar emphasized that expanding geothermal capacity has become
increasingly important as electricity demand continues to rise alongside the
country's transition toward cleaner energy sources. She noted that geothermal
developments require substantial capital investment, lengthy development
periods, and the ability to manage complex technical challenges during the
exploration phase. She also expressed confidence in ThermaPrime's experienced
personnel and reliable drilling equipment, recognizing the company's capability
to undertake one of the most critical stages of geothermal development.
For its part, ThermaPrime President and Chief Operating
Officer Antonio Mabasa said participating in the drilling campaign supports not
only MGI's long-term expansion plans but also aligns with the Lopez Group's
broader commitment to advancing sustainable energy initiatives in the country.
ThermaPrime operates as a wholly owned subsidiary of First
Balfour, while the Lopez Group also owns Energy Development Corp., the
country's largest geothermal energy producer with an extensive portfolio of
operating geothermal facilities.
MGI currently operates two geothermal power plants in Santo
Tomas, Batangas: the 20-megawatt Maibarara-1 facility and the 12-megawatt
Maibarara Geothermal Power Project, providing a combined generating capacity of
32 megawatts.
The company is majority owned by the Yuchengco Group through
PetroGreen Energy Corp., which holds a 65 percent stake. ACEN Corp. of the
Zobel Group owns 25 percent, while PNOC Renewable Corp. retains the remaining
10 percent.
The upcoming exploration campaign represents another strategic step toward strengthening the Philippines' renewable energy capacity, with successful drilling potentially paving the way for future geothermal power projects that can deliver stable, low-carbon electricity for decades.
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