Baker Hughes Launches Consortium Exploring Technologies To Transform Abandoned Wells for Geothermal Energy Production – Yahoo Finance
Wells2Watts consortium is a private industrial partnership between Baker Hughes, Continental Resources, INPEX and Chesapeake Energy Corporation
Group exploring technology to convert and retrofit oil and gas wells for geothermal energy, revitalize dry non-productive geothermal wells and develop greenfield opportunities for geothermal renewable electricity production
Additional support from technology providers includes Vallourec and GreenFire Energy to develop a first-ever closed loop geothermal test facility in the world at the Hamm Institute for American Energy in Oklahoma City
HOUSTON, TX / ACCESSWIRE / December 8, 2022 / Baker Hughes, an energy technology company, is spearheading the geothermal energy consortium Wells2Watts, which aims to transform dry-nonproductive geothermal wells and non-productive oil and gas wells into geothermal wells capable of generating renewable electrical power. With its industry partners, the consortium looks to accelerate technology development and commercially scale geothermal as a baseload energy supply.
The consortium will focus on how technology can retrofit a well at the end of its productive life for geothermal energy and renewable electricity production. The near-term focus of the consortium includes opportunities using closed-loop geothermal technology.
“This unique geothermal consortium supports Baker Hughes’ strategic commitment to position for new frontiers by innovating new opportunities for traditional oil and gas customers to generate low carbon and geothermal solutions. Further, this highlights our disciplined approach to long-term, sustainable growth to bring renewable energy in the U.S. and beyond,” said Maria Claudia Borras, executive vice president of Oilfield Services and Equipment at Baker Hughes.
Largely funded by its industry partners, the consortium also receives support from technology providers, including Vallourec and GreenFire Energy, through in-kind materials and labor contributions for construction, testing and piloting purposes. The first consortium project will center around the test well at the Baker Hughes Energy Innovation Center located at the Hamm Institute for American Energy in Oklahoma City, Okla., to create the first-of-its-kind closed loop geothermal laboratory in the world. The test well will simulate relevant subsurface environments to test the closed-loop system for many well configurations, validate engineering performance models, and offer scale for field pilot efforts.
“This consortium goes hand in glove with Continental Resources’ longstanding commitment to producing the energy our world needs while being stewards of our natural resources. We look forward to working with these collaborating companies using our complementary skills and innovative technology to transform completed wells into geothermal wells.
This a great example of the industry coming together to pursue new areas to provide the energy the world needs,” said Bill Berry, CEO of Continental Resources.
“INPEX entered the geothermal energy industry in 2011 and is currently involved in multiple geothermal projects in Japan and Indonesia. We are very pleased to join the Wells2Watts geothermal energy consortium and excited to collaborate with the consortium members. We have a shared ambition to solve environmental problems through new technologies and hope to pave the way for commercial utilization of closed loop systems enabling us to supply energy with an affordable price,” said Yoshiro Ishii, senior vice president, Renewable Energy & New Business of INPEX.
Baker Hughes has been a leader in geothermal energy development for over 40 years, bringing reliable heat and power production to over 25 different countries. Wells2Watts will initially focus on projects within North America and Asia Pacific. The consortium was signed in November 2022 and is part of collaboration between Baker Hughes’ existing Oilfield Services and Equipment New Energy and Carbon Management business and the Industrial Energy Technologies Energy Innovation Center.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
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SOURCE: Baker Hughes
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https://www.accesswire.com/730919/Baker-Hughes-Launches-Consortium-Exploring-Technologies-To-Transform-Abandoned-Wells-for-Geothermal-Energy-Production
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