Sep 29, 2022
MOU between Keystone Offshore and Sinopec Star East China Jiangsu New Energy Development Co., Ltd to jointly develop a feasible solution for geothermal resource utilization in Singapore
Keystone Offshore Pte. Ltd. today announced a Memorandum of Understanding (MOU) with Sinopec Star East China Jiangsu New Energy Development Co., Ltd, to jointly develop a feasible solution for geothermal resources utilization in Singapore.
Geothermal energy is an important clean energy source that has yet to receive as much attention, especially in metropolitan areas like Singapore. This partnership combines technical knowledge, business networks, experiences, and resources from both companies to develop an innovative geothermal energy utilization solution. Meanwhile, the partnership will also target the study of green hydrogen production as well as carbon capture and storage. This reinforces Keystone's position as an emerging contributor to Singapore's pledge to reduce greenhouse gas emissions and Net Zero Emission.
Sinopec Star East China Jiangsu New Energy Development Co., Ltd is a wholly owned subsidiary of Sinopec Star Co. Ltd. Sinopec Star Co. Ltd is the execution arm of China national geothermal center with experience in multiple geothermal related research and development projects. The team, currently consist of hundreds of researchers, and has received multiple accolades at the national and provincial level. As a champion of innovation, Sinopec Star East China Jiangsu New Energy Development Co also holds several geothermal related patents.
Keystone Offshore Pte Ltd is a Singapore-based asset management company servicing the Offshore Oil & Gas and Renewable Energy sectors. We are industry experts backed by years of experience across commercial, operations, technical, and safety functions. Keystone conducts business with the highest degree of corporate governance, accountability, and ethical standards.