Thermal Energy Partners and Schlumberger New Energy Enter into Agreement to Create GeoFrame Energy, a Geothermal Project Development Company

Thermal Energy Partners (TEP), a developer of geothermal energy projects, and Schlumberger New Energy, a new Schlumberger business, announced today that they have entered into an agreement to create GeoFrame Energy†, a geothermal project development company. GeoFrame Energy will leverage its partners' expertise to develop efficient and profitable geothermal power generation projects worldwide, providing reliable, renewable energy with both baseload and load following capabilities. "Through GeothermEx, a Schlumberger company, we have acquired extensive knowledge of geothermal resource assessment and project design implementation," said Ashok Belani, executive vice president, Schlumberger New Energy. "By combining our geothermal, subsurface and drilling expertise with TEP's experience in project development and risk mitigation, we will develop de-risked and streamlined geothermal projects on a global scale."