“Making geothermal energy profitable: from subsurface uncertainties to viable business models “

Not one single country or energy company can avoid this question: what role will sustainable energy play in our future and how can we shape the transition?

The crossover from oil & gas to geothermal energy may play a key role in the journey towards sustainable use of the subsurface and a greener energy world. Yet, uncertainties on profitability and the establishment of viable business models are hindering the large-scale development of geothermal energy, especially in areas located in sedimentary basins where the geothermal gradient/ heat flow are relatively low compared to magmatic areas that comprise more traditional geothermal targets. Behind these questions lie fundamental challenges related to developing a deeper understanding of subsurface uncertainties, safe and cost-effective development and integrated systems.

These challenges can be tackled via the effective transfer of knowledge between the well consolidated oil & gas industry and the relatively young geothermal sector, including the development of novel techniques aimed at reducing the cost of exploration, improving resolution of subsurface imaging, enhanced reservoir identification and definition as well as monitoring and predicting geophysical and geochemical changes during the development. Moreover, although complementary geothermal-hydrocarbon production opportunities exist, they currently face technical, economic and policy challenges that are slowing or stopping their effective implementation.

Working together can provide the opportunity to develop viable business models that can facilitate large-scale geothermal developments, cherish the extensive knowledge base to develop geo-energy sources on a sustainable and responsible manner and create a well-grounded license to operate for an integrated geo-energy sector..

The Geothermal Crossover Technology workshop will offer an exciting knowledge sharing and discussion platform where industry experts, country representatives and academia can share their visions and perspectives on how the petroleum and geothermal industries can work together to create new opportunities to make geothermal energy exploration and production a reality.

The workshop objectives

The GTW will address specifically these fundamental challenges:

• the understanding of subsurface uncertainties and associated risk mitigation;
• the effective knowledge between the resourceful Hydrocarbon and the Geothermal industries;
• the development of robust techniques for accessing deep and hot reservoirs;
• and the establishment of a sound industrial long-term business vision;