Austria’s Wien Energie and OMV are partnering to jointly explore geothermal energy opportunities and develop and operate deep geothermal plants in the greater Vienna region of Europe, OMV announced in a March 8 press release.
The two companies have already embarked on projects to gather data and comprehensive findings in the Vienna Basin in order to measure the potential of geothermal energy in the area, including in the GeoTief Wien research project.
As Austria’s largest regional energy provider, Wien Energie operates heat generation plants in one of the largest district heating networks in Europe with a goal to make district heating generation carbon neutral by 2040.
With OMV, Wien Energie hopes to develop in 2026 the first deep geothermal plant in Aspern, a part of the 22nd district of Vienna. OMV will contribute decades of knowledge in geology, geophysics, drilling and production technology.
OMV is switching from an integrated oil, gas and chemicals company to a low-carbon business. The company’s strategy by 2030 is to provide low-CO2 forms of energy, including deep geothermal energy. By 2050, the company hopes to hit net zero in all three Scopes.
A Tale Told by AI: Wireline Crews the ‘Unsung Heroes’ of Oil, Gas
2023-03-23 - From robotic dogs to well interventions to AI, Occidental Petroleum’s Shauna Noonan wants to reframe the narrative to attract talent to the oil and gas industry.
Vitol’s VTX Energy Partners Completes Southern Delaware Basin Deal
2023-03-23 - VTX Energy, backed by Swiss oil trader Vitol, purchased 35,000 net leasehold acres with an average production of 40,000 boe/d in the Delaware Basin’s Pecos and Reeves counties, Texas.
Market Watchers: Oil, Gas Demand to Overtake Supply by Year’s End
2023-03-23 - Dennis Kissler, senior vice president of BOK Financial’s trading division, discusses supply and demand and the gambles ahead for the market.
BP Weighs Buying Control of Solar Power JV Lightsource BP
2023-03-23 - BP currently holds 50% in Lightsource BP, which has a portfolio valued around $2 billion.
Oil Prices Fall in Choppy Trade as Banking Fears Rattle Markets
2023-03-13 - Brent and West Texas Intermediate crude futures fall to lowest in months as the U.S. intervenes in Silicon Valley Bank collapse.