Australian ADX Energy to test wells for potential geothermal development
Australian oil and gas player ADX Energy announces exploration work to determine the potential redeploying drilled oil and gas wells in Austria for geothermal.
Earlier this year, we reported on a project by Australian ADX Energy looking at developing a geothermal pilot project in Austria. Now details emerge on the planned work and the partnership with Siemens energy and RED Drilling & Services GmbH (RED).
ADX Energy is an ASX listed oil & gas exploration and production company focussed on projects in Austria, Romania and Italy. The company is looking at redeploying some assets for green energy alternatives. With the acquired assets in Austria in Europe, the company wants to demonstrate the potential for oil and gas reservoirs to be redeployed. The choice of Siemens Energy seems to be tied to more efficient technology for generating electricity. With that, so the company, the hope is that with each well drilled, the amount of energy extracted will be a multiple of that provided by conventional technology, so the article.
The company is currently doing a series of studies on different well sites that already have wells in place. An assessment of temperature and flow rate will then determine which sites are getting a closer look. The first downhole testing is planned to be conducted in Q3, 2021.
ADX Energy is also exploring other geothermal opportunities across Central Europe.
In Austria, in the Vienna Basin, the company has announced a green hydrogen production and storage project. The company sees itself well positioned having the skills to drill wells and store energy in reservoirs. The move to geothermal is essentially taking advantage of those skills an redeploying them going ahead with green energy alternatives to oil and gas development.
Source: Stockhead