OMV starts two geothermal projects in Austria, Germany

Oil and gas major OMV AG (VIE:OMV) has launched two geothermal projects in Austria and Germany as part of a strategy to raise its annual production from geothermal energy to up to 9 TWh by 2030.

In Austria, the group is preparing to test heat generation to assess the geothermal potential in the Vienna Basin. The test will take place at a depth of about 2,800 m and will include the production of formation water, its temporary storage in containers above the ground and its return to the formation. The goal is to collect data to decide whether this formation is suitable for producing geothermal energy, OMV said earlier this week in a press statement.

In Germany, the Vienna-based group is working on a geothermal exploration project in Lower Saxony in which it holds a 50% stake. The scope of the project includes the collection of geological information for an area of about 5,000 sq km to the north and northeast of Hanover using a small aircraft. The data will be used to evaluate the geothermal potential in the region and its deployment for power production. OMV is partnering with Switzerland-based ZeroGeo Energy GmbH on this project.

“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 OMV's chairman and chief executive Alfred Stern.

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