Video Our Role in New Energy Sectors
Interview with Schlumberger New Energy EVP Ashok Belani
Geothermal power is a sustainable and renewable energy source with unique advantages in the energy transition and for meeting the electricity demands of the future. Geothermal power uses the heat of the earth to generate electricity by tapping hot water and steam zones that are continuously recharged naturally and by reinjection after heat extraction in the power plant.
Many geothermal power projects are located along the boundaries of the Earth’s tectonic plates, particularly in areas with volcanic activity, which brings high-grade heat up to drillable depths. Hence, the Ring of Fire and other tectonically active areas host much of the world’s existing geothermal power production.
According to the International Energy Agency (IEA), geothermal capacity additions averaged 500 MW per year in the last 5 years. Most of this growth was in emerging economies because they have abundant and untapped resource availability.
Geothermal key renewable source provides a significant share of electricity demand in countries such as Iceland, El Salvador, New Zealand, Kenya, and the Philippines. With a very high capacity factor, geothermal power plants typically supply baseload electricity and provide ancillary services for short- and long-term flexibility in some cases.
Success in any geothermal project requires an informed, interdisciplinary approach that combines innovative science and engineering with significant experience and hands-on project management.
Leveraging our leading capabilities for subsurface data analysis, our ability to develop optimized drilling plans, and integrated management and execution, the Schlumberger New Energy geothermal power ventures enable cost-effective geothermal development and improved success rates through technical consulting and innovative business models that maximize the value of geothermal resources and the power they produce.