German O&G eyes repurposing old oil wells for geothermal use
German oil and gas firm RDG rebrands as ONEO and repositions its business to CO2 neutral energy transition work with a focus on repurposing old wells to geothermal energy use.
German energy company RDG GmbH has announced a repositioning of its business. In view of the finite nature of oil and gas production in the current economic and political environment, the company has evolved its business model. Under the new name ONEO, the company will develop innovative ideas and solutions for a CO2 neutral energy transition, as reported in its press release of Oct. 21 2021.
Started as RDG GmbH in 2016, the previous focus of business activities was on optimising oil and gas production in the German states of Lower Saxony, Bavaria and Rhineland-Palatinate with modern production technology, digitalised processes and high standards of occupational safety and environmental protection.
Felix Lerch, CEO of ONEO, states that “existing operating sites do not limit our energy transition activities, but rather form a valuable basis upon which we can expand into renewable energy.” Existing boreholes, for example – so the release – can be used after their production time to generate electricity or heat from geothermal energy without having to take up additional land.
“We actively seek local discussion and focus on solutions that are developed through dialogue”, emphasises Lerch. “ONEO sees itself as a reliable local partner with whom one can enter into conversation and find solutions in a pragmatic and quick manner.”
The company has first projects already in development. For example, ONEO is currently conducting a feasibility study on geothermal energy generation at the site of an oil project in Ampfing, Bavaria (Details on the project website). The Suderbruch production facility in Lower Saxony is in the process of being dismantled – after production ended after sixty years. Here, too, after-use concepts are currently being developed, which will then be discussed with the local community.
Source: company release