
Geothermal plant in Japan. (Source: Shutterstock)
Chevron New Energies said June 21 its subsidiary in Japan and Mitsui Oil Exploration Co. Ltd. (MOECO) will work together to pilot test advanced closed loop geothermal technology (ACL).
The pilot testing by Chevron New Energies Japan and MOECO will be the first of Chevron New Energies International Pte Ltd. and MOECO’s joint collaboration agreement signed in September 2022.
Unlike conventional geothermal technology, in which hot water or steam is extracted from underground reservoirs, ACL utilizes a loop of underground wells for subsurface heat exchange through conduction. A working fluid from the surface is circulated through the wells to generate electricity.
“Chevron and MOECO believe that geothermal can be a significant enabler in Japan’s lower carbon and net zero journey,” Barbara Harrison said, vice president of offsets and emerging for Chevron New Energies. “Geothermal development needs to be carried out with the final customer in mind and with consideration of potential impacts to the environment and the local community.
Looking to de-risk, scale and commercialize the technology, the companies plan to carry out the pilot test in the Niseko region of Hokkaido, Japan. Commercial applications will be considered based on knowledge gained from the pilot and elsewhere.
“We expect to open up a new geothermal business by collaborating with Chevron New Energies, which has advanced technology and extensive experience to tackle this challenging project,” said MOECO CEO Hirotaka Hamamoto. “We, MOECO, a member of the Mitsui & Co.’s group company, aim to contribute to the stable supply of energy, achieving improved standards of living, and sustainable development of society through the promotion of renewable energy projects such as geothermal power generation.”
Recommended Reading
Element Six, Master Drilling Announce Tunnel Development Partnership
2025-02-19 - Element Six and Master Drilling will deliver a diamond-enabled solution designed to increase tunneling development speed, reducing costs and minimize the environmental impact of tunnel construction.
Pair of Large Quakes Rattle Texas Oil Patch, Putting Spotlight on Water Disposal
2025-02-19 - Two large earthquakes that hit the Permian Basin, the top U.S. oilfield, this week have rattled the Texas oil industry and put a fresh spotlight on the water disposal practices that can lead to increases in seismic activity, industry consultants said on Feb. 18.
E&P Seller Beware: The Buyer May be Armed with AI Intel
2025-02-18 - Go AI or leave money on the table, warned panelists in a NAPE program.
PrePad Tosses Spreadsheets for Drilling Completions Simulation Models
2025-02-18 - Startup PrePad’s discrete-event simulation model condenses the dozens of variables in a drilling operation to optimize the economics of drilling and completions. Big names such as Devon Energy, Chevron Technology Ventures and Coterra Energy have taken notice.
Aris CEO Brock Foresees Consolidation as Need for Water Management Grows
2025-02-14 - As E&Ps get more efficient and operators drill longer laterals, the sheer amount of produced water continues to grow. Aris Water Solutions CEO Amanda Brock says consolidation is likely to handle the needed infrastructure expansions.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.