www.drillingexploration.com.au
6 July 2009
Petratherm has announced it is on track to deliver Australia's first commercial geothermal energy project, following the start of major drilling at its Paralana site in South Australia. Petratherm spudded its Paralana 2 deep well using a AUS $40 million custom-made contract drilling rig which arrived on-site last month.
A specially trained team of workers and a 40-bed camp are now on-site as major drilling gets underway. According to the company, the Paralana project will use the rig to drill 4 kilometers below the earth's surface creating a deep injection well that will establish an underground "heat exchanger" capable of circulating super-heated water exceeding temperatures of 200°C.
Petratherm's joint venture partners Beach Petroleum and TRUEnergy Geothermal have announced will contribute AUS $10 million and $6 million respectively, plus their equity share of project costs, towards drilling and stimulating the first and second deep wells and the water circulation between the two wells.
The Paralana project covers over 500km² of known hot rock granite resources.
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