Chevron New Energies Japan GK (Chevron New Energies Japan), a subsidiary of Chevron U.S.A. Inc., and Mitsui Oil Exploration Co., Ltd (MOECO) announced execution of definitive agreements to proceed with the pilot testing of advanced geothermal technology. Pursuant to these agreements, Chevron and MOECO will conduct pilot tests of a developing novel geothermal technology, specifically advanced closed loop (ACL) technology.
ACL technology involves sub surface heat exchange through conduction by circulating a working fluid from the surface through a loop of underground wells to generate electricity (through surface facilities) by utilizing sub surface geothermal heat (sub surface radiator). It does not require direct extraction of hot water (brine) or steam from underground reservoirs, as is the case with conventional geothermal technology. ACL is gaining momentum worldwide as a novel technology that has the potential to unlock geothermal energy globally in multiple locations, closer to load and customers, promoting geothermal development which can be a lower carbon energy solution and a reliable baseload.
Courtesy of Chevron.