By Innocent Obasi
A Joint Collaboration Agreement between Chevron New Energies International Pte, Ltd. (Chevron) and Mitsui Oil Exploration Co., Ltd. (MOECO) has been signed to explore the technical and commercial feasibility of advanced geothermal power generation in Japan.
The new partnership will study geothermal resource potential across Japan and evaluate the effectiveness of Advanced Closed Loop (ACL) technology in preparation for a future joint pilot project in Japan, building on Chevron and MOECO’s long-standing relationship. Using ACL internationally, both businesses might assess potential partnership for advanced geothermal technology.
ACL has the potential to enable access to geothermal resources, such as geysers, hot springs, steam vents, underwater hydrothermal vents, and mud pots, at a wider range of temperatures and geologies through the application of alternative technology above and below the surface, in contrast to conventional geothermal projects, which use traditional steam turbines requiring high temperatures often found in concentrated locations constrained by geological characteristics.
“Chevron and MOECO share a goal of delivering lower carbon energy solutions, while meeting the need for reliable, affordable energy,” Barbara Harrison, vice president of Offsets & Emerging, Chevron New Energies, said.
“This collaboration provides an opportunity for Chevron to combine its subsurface capabilities and technologies with MOECO’s intimate knowledge of Japan’s geothermal potential resource geology and its long history of responsible resource development. The joint team will have the opportunity to test emerging geothermal technology in a real world setting with significant scaling up potential,” she said.
Hirotaka Hamamoto, CEO of MOECO, said the company entered the geothermal business in 2012 and has been expanding its geothermal portfolio since then.
“In parallel with conventional geothermal, we have been studying ACL technology for many years and we believe this collaboration with Chevron utilizing ACL technology could unlock tremendous geothermal resources in Japan,” Hamamoto said.
“This joint collaboration with Chevron, who has been a valued partner of MOECO for several decades in the energy industry, is intended to open a new chapter in the geothermal industry as MOECO aims to continue contributing to an environmentally sustainable world as a member of the Mitsui & Co.’s group companies,” he said.
