Geothermal energy is regarded as a renewable source of energy. One of the most important prerequisites for financially profitable and sustainable geothermal power plants is cost control connected with the construction of geothermal wells. In all essentials, these wells are constructed in the same way as oil and gas wells, but are more demanding because of the high temperatures and hard rock. For several years, IRIS Energy has utilised its expertise in drilling and welling technology on geothermal wells. During the course of 2015, we received financing for three projects associated with geothermal drilling: “GeoWell”, which is an EU project together with a large European research consortium, “Feasibility study on Deep Geothermal Drilling in Ålgård” and the EnergiX project “INNO-Drill”. GeoWell started in February 2016 and all work packages are well underway. The aim of the project is to develop cost-effective and environmentally-friendly technology for high temperature geothermal wells
CO2 storage and the use of CO2 form an important part of the IRIS renewables project portfolio. We are active participants in both national and international networks. IRIS took part in the preparation of the FME ATHENA application, which is led by Uni Research. IRIS is a full member of EERA (the European Energy Research Alliance) JP CCS and is on the Executive Committee of CO2GeoNet. Both networks are in close dialogue with the European Commission, organise and participate in conferences, hold courses, and apply for EU funding for research projects.
REPP-CO2 which is financed by Norway Grants, is our largest CO2 project. It is led by CGS (the Czech Geological Survey), however IRIS has a large part of the project. IRIS contributes in geology and reservoir modelling and in risk management. The project is being implemented over the course of 2015-2016, and is aimed at a CO2 storage project in the Czech Republic. In 2016, we received a grant from the EU for a new CO2 project within H2020. The project is called ENOS (ENabling Onshore CO2 Storage in Europe) and the grant is a total of €12.5 million for the period 2016-2020. IRIS is one of the 29 partners from 17 countries.