Chevron New Energies International Pte, Ltd. (Chevron) and Mitsui Oil Exploration Co., Ltd. (MOECO) today announced that they have entered into a joint cooperation agreement to study the technical and commercial feasibility of advanced geothermal power generation in Japan.
Building on Chevron and MOECO’s longstanding relationship, this new collaboration will explore geothermal resource potential across Japan and evaluate the effectiveness of Advanced Closed Loop (ACL) technology for future joint pilot projects in Japan. The two companies may also explore potential collaboration for advanced geothermal technology opportunities with his ACL around the world.
Geothermal projects using conventional steam turbines, which are often found in concentrated locations with limited geological features, apply alternative technologies above and below the surface to help ACL Potentially improve access to geothermal resources.
Barbara Harrison, vice president, Offset and Emerging, Chevron New Energies, said: “This partnership provides Chevron with the opportunity to combine underground capabilities and technology with MOECO’s deep knowledge of the geology of Japan’s geothermal potential and long history of responsible resource development. We will have the opportunity to test new geothermal technologies in real-world environments with the potential for significant expansion.”
“MOECO has expanded its geothermal portfolio since entering the geothermal business in 2012. In parallel with conventional geothermal, we have been investigating ACL technology for many years and this cooperation with Chevron has enabled ACL We believe that technology can be used to unlock Japan’s vast geothermal resources.” MOECO becoming a member of the Mitsui & Co. group of companies will strengthen the partnership with Chevron, MOECO’s valued partner in the energy industry for decades. Joint cooperation will open a new chapter in the geothermal industry. “