Wien Energie and OMV are partnering in a joint venture to explore geothermal energy opportunities in Europe. (Source: Shutterstock)
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.
Recommended Reading
Midstream M&A Adjusts After E&Ps’ Rampant Permian Consolidation
2024-10-18 - Scott Brown, CEO of the Midland Basin’s Canes Midstream, said he believes the Permian Basin still has plenty of runway for growth and development.
CEO: Breakwall Providing Capital as RBLs ‘Materially’ Decrease
2024-10-09 - Breakwall Capital is stepping in to bridge the gap from the historic days of reserve-based lending, Breakwall Managing Partner and co-CEO Jamie Brodsky said at Hart Energy's Energy Capital Conference in Dallas.
EQT to Cut Workforce 15% Following Close of Equitrans Acquisition
2024-10-02 - EQT Corp. closed its $5.5 billion all-stock buy of Equitrans Midstream Corp. on Sept. 22.
SM Energy Adds Petroleum Engineer Ashwin Venkatraman to Board
2024-12-04 - SM Energy Co. has appointed Ashwin Venkatraman to its board of directors as an independent director and member of the audit committee.
BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks
2024-10-30 - Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico.
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.