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Building a Geothermal Energy business


….to what extent can a 'geothermal business' yield good economic returns?
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FEATURED SPEAKERS
John Leggate
» Chairman
» Gresham House Energy Storage Fund
Karl Farrow
» CEO
» CeraPhi Energy Ltd

Full Agenda

Friday, July 9, 2021
Webinar
Online

Read our report from this event


Our first webinar on May 28 was in some ways a ‘Geothermal 101’ that triggered a number of questions mainly along the lines of:

“Interesting technology, we can see the cross-over from the petroleum industry and there is clearly a strong business case when the temperatures are high (200deg C or so) yielding significant electricity to the market (if you can negotiate a good price!).

But at lower temperatures, surely there is an issue of high costs yielding low-ish revenues? Re-purposing good quality E&P wells may help with costs but aren’t the electricity volumes going to be low, and if the product is heat, is there a near-enough market?”

In other words, let’s hear more about the business case, the economics!

This Lunch’n Think Webinar on July 9th will be designed to answer these questions!

Agenda

 
13:00 David Bamford - Director
Finding Petroleum

Video of geothermal webinar Jul 2021


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David Bamford is well known around the oil & gas industry both as an explorer and a geophysicist. He holds a Physics degree from the University of Bristol and a Ph.D in Geological Sciences from the University of Birmingham.

Since 2004, he has been a non-executive director at Tullow Oil plc, being recruited for this position especially for his exploration knowledge. He serves on the Nominations and Remuneration Committees, and was chairman of the latter, and Senior Independent Director, for 3 years prior to his retire from the board at the end of April 2014.

He was on the board of Premier Oil from May 2014 to May 2016.

He retired from BP plc in 2003, his last four positions being Chief Geophysicist (1990-1995), Business Unit Leader (General Manager) for first West Africa and then Norway (1995-1999), and finally Head of Exploration until 2003.

He has served on the boards of Paras Ltd, a small exploration and IS/IT consulting company in which he held 22% equity, until its sale to RPS Energy in 2008 and Welltec a/s, a Danish well engineering company, as the nominee of the private equity investor Riverside.

From 2012 to 201 he was on the board of ASX-quoted Australia Oriental Energy as a non-executive director.

He was a founder of Richmond Energy Partners, a small oil & gas research house, and several media companies that focus on the oil & gas sector, and has served as an advisor to Alliance Bernstein, Opus Executive, the Parkmead Group plc, and Kimmeridge Energy LLP. Since retiring from BP, he has undertaken asset and company valuation projects for investment banks, hedge funds and small oil companies.

Finding Petroleum
Finding Petroleum was established to help the oil and gas industry network, and stay up to date on t
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13:05 John Leggate - Chairman
Gresham House Energy Storage Fund

Commercial challenges for Renewables, especially Geothermal


John has more than 25 years in the Energy space - from coal, oil and nuclear power plant construction, to oil and gas field projects operations.
For the last 10 years John has been an investment and strategic advisor in the Clean Tech/Renewable Energy sector and in the Digital Transformation sector.

Gresham House Energy Storage Fund

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13:15 Zosimo "Zammy" F. Sarmiento - President & CEO
Sarmiento & Associates Inc.

General Exploration and Development Strategies in Greenfield Geothermal Areas


Talk Description
The success rates in geothermal exploration have been a major issue that deterred many developers, investors, and funding institutions from financing greenfield geothermal areas. Geothermal development is inherently risky especially for any potential player who has very little or no experience in the industry. It takes 5-6 years before a power plant can be commissioned but it can be shortened with the right government policy and regulations, signed PPA, good and experienced personnel, and sufficient funds to bankroll the drilling campaign. A power plant can be built within two years after drilling the first exploratory wells, the period of which is dictated more by the manufacturing of the main turbine and plant construction. Today, wellhead units can even be brought online for 9-10 months, enough to supply electricity during the early stage of the exploration and delineation drilling program. As the highest risk is during the deep drilling exploration stage, thorough surface exploration studies need to be conducted to increase the chance of success.

In the past, the reservoir extent and structure were usually imaged by running a DC resistivity survey that can reliably capture geothermal anomalies within the 700-800 meters depth. Most of the top of the reservoirs are located at 1000-1500 meter intervals. Hence, ambiguities in the interpretation of the results often occur. These ambiguities, which could result in delineating 2 or more anomalies contribute to many failures in drilling. We use to drill 7-10 gradient holes in the past just to measure temperature gradients and locate the probable site of high temperatures in the geothermal play.

Today, the existing technology and the advanced interpretation of the data obtained from magnetotelluric (MT) and gravity surveys allow the imaging of the vertical and lateral extent of the reservoir from the surface down to the basement rock as desired or even beyond the magma chamber.

A general strategy that has been successfully adopted in many areas in Asia, New Zealand, Iceland, Central America, and East Africa will be discussed briefly, with concomitant techniques applied during the drilling and testing, to shed light that if done properly, the risks involved in geothermal development can be significantly reduced.

Zammy spent most of his 43-year career developing geothermal energy in the Philippines and abroad. He has been involved, either directly employed or engaged, as a Consultant in more than 2000 MW of geothermal energy installations in the Philippines, Indonesia, Kenya, El Salvador-Central America, Chile, Taiwan, and many others.

He is the President and CEO of FEDCO (Filtech Energy Drilling Corporation), and recently at Sarmiento + Associates Inc., both a local and international consultancy firm on geothermal energy. Zammy used to be the Chief Technical Officer from 2016 until February of 2019 of KS Orka Renewables Pte. Ltd, a Singapore-based company developing geothermal energy in Indonesia with a target installation of 270 MW in two concessions in Indonesia.

He served as a Consultant to Indonesia’s PERTAMINA under the World Bank and NZ Government Technical Cooperation Programme. Other geothermal companies in where he served as a Consultant include Marubeni for Rantau Dedap, Star Energy, and Power Tek Berhard of Malaysia in its attempted acquisition of Wayang Windu Geothermal Project. He is currently acting as Advisor to Emerging Power Inc., in its Montelago Geothermal Project in the Philippines. His early years were honed over 27 years at the government-owned and controlled PNOC-Energy Development Corporation where his last position was Senior Manager for Resource Management and Drilling Division before his early retirement in 2005.

Sarmiento & Associates Inc.

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13:30 Karl Farrow - CEO
CeraPhi Energy Ltd

Scaling Geothermal for baseload Energy Impact


Talk Description
The decarbonisation of heat is one of the biggest global challenges in the energy mix, what if deep geothermal or the use of thermal heat from deep under the ground could be used at a commercial scale to provide a global solution to electrification of heat?
30 Years in Energy sector starting life in Oil and Gas Exploration via a HND apprenticeship with a major US drilling rig manufacturer in the UK. During his 20’s he worked primarily within construction management within Europe and North Sea supervising EPC fabrication and Hook-up activities offshore. Founding Petrotec Group in 2000 in Spain, a bespoke project management interface and commissioning business with proprietary PMC software and operational offices in UK and across Europe and the Americas. Following acquisition 2008 Karl moved into a role as Director of International Commissioning Business for Wood, before moving to Mexico 2012 where he held roles as Operations Director for Petrofac and Regional Director IHI Corporation which is where Karl was first exposed to Geothermal Energy which has lead Karl on his journey to founding CeraPhi Energy a bespoke energy company with proprietary approach to developing affordable energy from Deep Geothermal.

CeraPhi Energy Ltd

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13:45 Greg Coleman -
Future Energy Partners Ltd

Transition from Oil to Geothermal - with a focus on East Africa


Greg has over 40 years experience in the oil and gas industry including over 30 years experience with BP plc following which he served as CEO of a private equity backed company he co-founded called Canamens and subsequently as CEO of a listed company on the London Stock Exchange called Independent Resources plc subsequently refinanced and renamed now called Echo Energy plc.

At BP, Greg served as Business Leader for BP Norway, Head of Investor Relations and finally as group Vice President for Health, Safety, Security and Environment at global remit before retiring in 2006.

Future Energy Partners Ltd
Future Energy Partners (FEP) is a unique oil and gas advisory service which prides itself on technic
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13:55 Q&A followed by Close no later than 14:15

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FEATURED VIDEO

Oil & Gas Careers - the state of play
by Deidre ODonnell from Working Smart


"Presentations from Greg Coleman, Mark McAllister and Bob Palmer especially were excellent - very informative and new insights on subjects about which we were not well informed before."

Iain Poole (Barnett Waddingham)

KEY SUPPORTERS

We are planning a further webinars program for 2022 -
If you may have an interesting story to share, please contact
Karl Jeffery on jeffery@d-e-j.com