Statoil drills world's hottest geothermal well on Iceland

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Statoil drills world’s hottest geothermal well on Iceland

Statoil and partners in The Iceland Deep Drilling Project has just started to drill a geothermal research well on Iceland. The goal is to explore if high temperature water can be extracted from deep reservoirs for power production.

In a long term perspective geothermal energy could be a renewable energy source with potential, thus Statoil has research ongoing to test the technological and economic viability of this resource. The geothermal research well on Iceland is an important part of this work.

Research and technology is crucial for Statoil in a short and long term perspective, and having the high-beams on means looking many years ahead and beyond current business. Geothermal energy is a renewable resource where we see a potential for leveraging on several of our core competencies from oil and gas such as subsurface, drilling and well and HSE”, says Elisabeth B. Kvalheim, Statoil’s Chief Technology Officer.

The concept of the research well at Reykjanes is to explore the opportunity to extract renewable energy by drilling wells into reservoirs with high-temperature water heated by the earth’s magma.

The well will be the world’s hottest geothermal production well. The drilling involves deepening of an existing geothermal well down to 5 km depth at the Reykjanes site operated by HS Orka. At this depth superheated steam can be brought to the surface at 400-500°C and used for efficient electricity production in steam turbines.

Head of Renewable research technology in Statoil, Hanne Wigum, explains; “Put it more simply you can compare it to the Earth’s radiator system, and geothermal energy is a global resource.

Iceland is a world leader in electricity production from geothermal energy and working close together with our partners is of great value to Statoil. Further research will be determined after this project”.

The drilling operation is expected to be completed by the end of 2016 at which point the project will enter into a two and a half year test period, where the objective is to confirm reservoir performance, well integrity and power production potential.

Source: www.statoil.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

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Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.