Icelandic drilling contractor for geothermal power and district heating that also drills wells for carbon capture and storage. Its Portuguese branch, Iceland Drilling Ltd. – Sucursal em Portugal (NIF 980679729, Lisbon), is registered to own and operate geothermal drilling rigs, and the company has drilled for the Azores utility EDA Renováveis on São Miguel and Terceira.
Iceland Drilling, Jarðboranir hf. in Icelandic, has its head office at Dalshraun 1B in Hafnarfjörður. Its website describes roots in Iceland’s geothermal development and an international business in geothermal regions including the Philippines, New Zealand, the Caribbean, the Azores and Africa; besides wells for geothermal power and district heating, it offers well services, well engineering and design, and drilling for carbon capture and storage projects. ThinkGeoEnergy reported in August 2022 that the Norwegian well-services company Archer had acquired a 50% stake in Iceland Drilling.
Its Portuguese work is in the Azores. In February 2020 ThinkGeoEnergy, citing Icelandic media, reported that the company had won a contract worth about ISK 2.6 billion (around €18.6 million) from EDA Renováveis, the renewable-energy arm of the Azores electricity utility EDA, to drill up to nine geothermal wells for the Ribeira Grande and Pico Vermelho plants on São Miguel and the Pico Alto plant on Terceira, after competing with two other drilling companies from the European Economic Area. It was not the company’s first Azores job: its chief executive at the time, Sigurður Sigurðsson, said the two São Miguel plants used wells it had drilled eight to fifteen years earlier.
The Portuguese registrations follow that work. Iceland Drilling Ltd. – Sucursal em Portugal (NIF 980679729) is a permanent representation at Palácio Sottomayor, Rua Sousa Martins 1, in Lisbon, registered to own and operate geothermal drilling rigs; Racius lists balance sheets for 2020 to 2022, changes to its representatives in October 2023 and an accounts filing in March 2025. A Portuguese subsidiary, Iceland Drilling (Azores), Unipessoal Lda (NIF 512099022) in Ponta Delgada, was dissolved and liquidated in January 2024, and an older branch of Iceland Drilling (UK) Limited in Praia da Vitória, Terceira, last filed accounts in 2008.
The Azores hold Portugal’s geothermal power plants, and Iceland Drilling is the Nordic contractor that has drilled there for the regional utility over more than a decade. For EDA Renováveis and for any future geothermal or carbon-storage drilling in Portugal, it is a Nordic driller with a registered Portuguese branch and a track record on São Miguel and Terceira; the dissolution of its Azores company in 2024 suggests a lighter presence today than during the 2020 campaign.
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