OMV starts two geothermal projects
- Geothermal energy a pillar of the OMV Strategy 2030
- Production test in Vienna Basin for possible heat generation
- Measurement program in northern Germany for possible use in power generation
In its Strategy 2030, OMV, the international integrated oil, gas and chemicals company headquartered in Vienna, has set itself the goal of expanding its low carbon business and thereby its range of low carbon energy. In the geothermal sector, OMV sees its strength in its extensive expertise along with experience above and below ground, its existing reservoirs and infrastructure, and the strong market growth in Europe. OMV’s energy production from geothermal energy is expected to grow to up to 9 TWh by 2030.
“The low carbon business plays an essential role in OMV’s Strategy 2030, especially geothermal energy. Here, we are using existing know-how to drive the energy transition and pave the way for a more sustainable life”, said Alfred Stern, OMV Chairman and CEO.
Amongst other projects, OMV is working on two geothermal development projects: one in Austria and one in Germany, where OMV is cooperating with a partner.
In Austria, OMV is conducting a production test to analyze the geothermal potential in the Vienna Basin. In terms of geology, the test takes place in the basement of the Vienna Basin, in the ”Hauptdolomit”. A workover will prepare the OMV well Aderklaa 96 for testing at a depth of about 2,800 m. Formation water (i.e. water contained in the rock’s pores) is produced, temporarily stored above ground in sealed containers and then fed back into the formation. The aim of the production test is to determine important reservoir parameters and to obtain samples of the formation water in order to decide whether this formation is suitable for producing geothermal energy.
In Germany, OMV has a 50% interest in a geothermal exploration project, called Thermo, in Lower Saxony. This involves a small aircraft taking gravity and magnetic measurements over an area of around 5,000 km² to gather geological information. This information will be used to assess the geothermal energy potential and will be part of a comprehensive evaluation of future geothermal activities in the area. OMV’s partner in this project is ZeroGeo Energy GmbH (50%).
According to OMV experts, the geothermal conditions in the Vienna Basin are suitable for use as a direct heat carrier. In northern Germany, the geothermal energy could be used to generate electricity.
More info on the OMV Low Carbon Business:
Low Carbon | OMV.com
More info on OMV Geothermal:
Geothermal energy – energy from the subsurface (omv.com)
Video: OMV Strategy 2030: Geothermal energy - YouTube
More info on the Thermo project: https://www.projekt-thermo.energy/
Background information:
OMV Aktiengesellschaft
With Group sales revenues of EUR 36 bn and a workforce of around 22,400 employees in 2021, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Refining & Marketing business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 1,800 filling stations in ten European countries. In addition, the activities include Gas & Power Eastern Europe where it also operates a gas-fired power plant in Romania. In Exploration & Production, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2021 included production from a joint venture in Russia and amounted to 486,000 boe/d with a focus on natural gas (~60%). As of March 1, 2022, Russian entities are no longer consolidated. Its activities include Gas Marketing Western Europe, where it also operates gas storage facilities in Austria and Germany.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
ZeroGeo Energy GmbH
ZeroGeo Energy GmbH, a Swiss company, is the operator and developer of geothermal power projects in Europe.
The Company is committed to contributing to the energy transition by delivering low carbon and baseload geothermal power at industrial scale by deploying Next Generation Geothermal Power Technologies fused with leading energy project implementation and financing expertise.
The Company is developing projects that will do this - delivering ‘always-on’ baseload green energy which the Company calls GeoPower.
The Company is led by an experienced Board and senior management team and the Company will leverage its expertise and experience in capital-intensive oil and gas projects, build synergies with our strategic partners, and deploy the latest developments in Next Generation Geothermal Power Technologies.
GeoPower greenhouse gas emissions will be certified in accordance with the Greenhouse Gas Protocols and our Environmental, Social and Governance (ESG) polices are fully aligned with the UN Sustainable Development Goals.
To find out more, visit https://www.zerogeo.energy/