OMV starts two geothermal projects in Europe

Austria’s OMV is working on two geothermal development projects in Europe, one in Austria and one in Germany, where OMV is cooperating with a partner.

OMV has set itself the goal of expanding its low carbon business and thereby its range of low carbon energy. In the geothermal sector, OMV said in a statement that it sees its strength in its extensive expertise along with experience above and below ground, its existing reservoirs and infrastructure, and the strong market growth in Europe. OMV’s energy production from geothermal energy is expected to grow to up to 9 TWh by 2030.

“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 Alfred Stern, OMV Chairman and CEO.

In Austria, OMV is conducting a production test to analyse the geothermal potential in the Vienna Basin. In terms of geology, the test takes place in the basement of the Vienna Basin, in the “Hauptdolomit”. A workover will prepare the OMV well Aderklaa 96 for testing at a depth of about 2,800 meters. According to OMV, the aim of the production test is to determine important reservoir parameters and to obtain samples of the formation water in order to decide whether this formation is suitable for producing geothermal energy.

In Germany, OMV has a 50 percent interest in a geothermal exploration project, called Thermo, in Lower Saxony. This involves a small aircraft taking gravity and magnetic measurements over an area of around 5,000 km² to gather geological information. This information will be used to assess the geothermal energy potential and will be part of a comprehensive evaluation of future geothermal activities in the area. OMV’s partner in this project is ZeroGeo Energy GmbH (50%).