Polaris Energy Nicaragua signs rig services contract

Polaris Infrastructure, a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America, announced Tuesday that its wholly owned subsidiary, Polaris Energy Nicaragua (Pensa), has entered into a rig services agreement with an entity controlled by Iceland Drilling Co. 

The agreement relates to the drilling of two new production wells and the work-over of four existing injection wells, with the option for a third new production well at the San Jacinto-Tizate Power Plant, owned and operated by Pensa.
Polaris anticipates a spud date on its first production well in early October.

Iceland Drilling has a long history in the geothermal well drilling industry, back to their founding in 1945, and brings deep drilling expertise, with in excess of 180 wells drilled in the last 10 years throughout Iceland, New Zealand and Indonesia. The firm will work closely with the team from Pensa.