www.energycurrent.com
8/13/2009
Unley, South Australia: Petratherm launched on Aug. 7 its Paralana geothermal hot rocks project in South Australia. Petratherm and partners Beach Petroleum and TRUEnergy have begin drilling the Paralana-2 deep well using a AUD$40 million (US$33.7 million) custom-made contract drilling rig commissioned from Weatherford International in Dubai.
The company will use the rig to drill approximately four kilometers (2.5 miles) below the earth's surface to create a deep injection well that, in tandem with a second drilled well, will establish an underground "heat exchanger" capable of circulating super-heated water exceeding temperatures of 200 degrees Celsius (392 degrees Fahrenheit.
The launch is a "major milestone for the project and keeps us on track to deliver Australia's first commercial geothermal energy supply by 2011," said Petratherm Managing Director Terry Kallis. "We believe the Paralana site, which has one of the highest recorded heat flows in Australia, has enormous potential for the future," Kallis noted.
Beach and TRUEnergy will contribute AUD$10 million and AUD$6 million (US$8.4 million and US$5.05 million), plus their equity share of project costs respectively towards drilling and stimulating the first and second deep wells and the water circulation between the two wells. "We anticipate supplying geothermal energy on a commercial basis within two years and aim to be powering businesses on a much larger scale by 2015," said Petratherm.
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