Ground Water Canada

Features Geothermal
Geothermal exploration holds potential despite challenges: report


July 23, 2015
By Ground Water Canada

Topics

July 23, 2015, Albany, NY – Although the high
cost and the lengthy time required to complete geothermal exploration can
hinder the growth of the market, ample opportunities exist as demand for electricity rises rapidly, says a recent report.

July 23, 2015, Albany, NY – Although the high
cost and the lengthy time required to complete geothermal exploration can
hinder the growth of the market, ample opportunities exist as demand for electricity rises rapidly, says a recent report.

Transparency Market Research's "Geothermal Exploration Market" report provides an analysis and forecast to 2019, and identifies trends in the geothermal industry.

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Geothermal Exploration is the exploration of geothermal resources that
can be extracted for the purpose of electricity generation. Geothermal
resource is primarily a volume of hot rock and water. Geothermal
exploration program implements various techniques to identify geothermal
reservoirs and information that can point to high porosity, low density
and high permeability areas that can assist in defining well field
development.

Geothermal exploration takes place in various phases such as Regional
reconnaissance, prospect evaluation, project appraisal and exploratory
drilling. Numerous drilling techniques are used in geothermal
exploration depending on economic considerations, region's geology and
project maturity. Geothermal exploration are further classified based on
the techniques such as data and modeling techniques, downhole
techniques, drilling techniques, field techniques, geochemical
techniques, geophysical techniques, lab analysis technique and remote
sensing techniques. Data and modeling technique includes data
acquisition, analytical modeling, numerical modeling and portfolio risk
modeling.

"Downhole techniques include borehole seismic techniques, formation
testing techniques, well-log techniques and well testing techniques.
Drilling technique covers development drilling and exploration drilling," Transparency Market Research says in a news release.
"Field techniques involve data collection and field sampling.
Geochemical techniques mainly include geochemical data analysis.
Geophysical technique contains electrical techniques, gravity
techniques, magnetic techniques and seismic techniques. Lab analysis
technique comprises of fluid lab analysis and rock lab analysis. Remote
sensing technique involves active and passive sensors."

Some of the major factors driving the growth of geothermal exploration
market are increasing population and growing economies. However, high
cost and the lengthy time required to complete geothermal exploration can
hinder the growth of the market. Ample opportunities are there for
geothermal exploration market as demand for electricity is rising at a
rapid rate.

The report also outlines some of the key players in the business of geothermal exploration, including
Mannvit Engineering, Schlumberger Ltd, Baker Hughes Inc, Geothermal
Exploration Ltd, Cluff Geothermal Ltd, Kalahari GeoEnergy Ltd, Panax
Geothermal Company and Weatherford International Ltd.

Browse the full report.