ThinkGeoEnergy – Geothermal Energy News

DOE awards $8.4m for accessing geothermal from old oil and gas wells

As part of its Wells of Opportunity program, the U.S. Department of Energy has awarded a total funding of $8.4m for four companies to tap the geothermal potential of abandoned oil and gas wells.

The U.S. Department of Energy (DOE) selected four new projects to receive up to $8.4 million to establish new geothermal energy and heat production from abandoned oil and gas wells, as announced by DOE on January 12, 2022. With this funding, DOE is partnering with existing well owners and operators to use their idle or unproductive wells to access otherwise untapped geothermal potential. Transforming oil wells into geothermal wells could expand U.S. geothermal energy capabilities, supporting the Biden-Harris Administration’s goal of a carbon-free grid by 2035. This work also supports the creation of new clean energy jobs, helping transition some of the oil and gas workforce to the production of renewable energy.

“With this initiative approach, we can transform existing fossil fuel wells into productive sources of sustainable, clean geothermal energy,” said Principal Deputy Assistant Secretary for Energy Efficiency and Renewable Energy Kelly Speakes-Backman. “These efforts will demonstrate how to leverage our existing oil and gas workforce and infrastructure, bringing more geothermal energy online and transitioning our energy workforce into the growing clean energy economy.”

The selected projects include:

This program is part of the?Wells of Opportunity initiative, funded by the Geothermal Technologies Office, that launched in 2020 and focuses on bringing geothermal online using existing infrastructure to lower costs and reduce development timelines. Last year, three projects were funded to help support research and development and reduce the costs and risks associated with geothermal development.

Source: DOE

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