Halliburton secured a multiyear contract with KS Orka Renewables to provide drilling and completion services for the PT Sorik Marapi and PT Sokoria geothermal projects in Indonesia, expanding the company’s renewable‑energy footprint and diversifying its revenue beyond oil and gas.
The agreement covers the construction of geothermal wells for the 200‑MW Sorik Marapi plant and the 30‑MW Sokoria project, underscoring Halliburton’s 70‑year legacy in geothermal development. Duane Sherritt, Vice President of Low Carbon Solutions, said the partnership positions Halliburton as an ideal collaborator to support KS Orka Renewables’ vision and extend these landmark projects.
The contract aligns with Halliburton’s broader strategy to grow its Low Carbon Solutions portfolio. The company recently reported a Q4 2025 earnings beat, with revenue of $5.7 billion and adjusted EPS of $0.69, surpassing analyst expectations of $5.39 billion and $0.55–$0.56 per share. The strong results were driven by robust international execution and disciplined cost control, reinforcing confidence in the company’s expansion into renewable energy.
Kaishan Group CEO Cao Kejian noted that the partnership will help deliver some of the lowest cost per foot geothermal wells in Indonesia and expand current capacity. The collaboration reflects Halliburton’s commitment to leveraging its technical expertise to support Indonesia’s growing geothermal market and to strengthen its position as a technology‑driven service provider in emerging energy markets.
The multiyear contract is a significant win for Halliburton’s international growth engines, adding recurring revenue and reinforcing its position as a technology‑driven service provider in emerging energy markets.
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