Standardizing the Definitions of Geothermal Resources Using the Analogy of the Oil and Gas Industry (Abstract report)

Falcone, G. , De Witt, G. and Teodoriu, C. (2011) Standardizing the Definitions of Geothermal Resources Using the Analogy of the Oil and Gas Industry (Abstract report). In: DGMK/OGEW Spring Meeting, Celle, Germany, 11-12 Apr 2011, ISBN 9783941721166

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Abstract

The defining and reporting of geothermal reserves needs to be standardised globally as using different rules, guidelines or codes implies varying levels of flexibility and uncertainty in assessing these resources. Greater uncertainty implies greater investment risk, which in turn leads to less confidence in funding geothermal developments. The difficulty in developing a standardised workflow for classifying geothermal resources is increased by varying environmental, policy and regulatory constraints around the world. In the case of geothermal resources, the difficulty lies in defining what the target actually is: the source, the reservoir, the fluids, the stored heat, the recoverable volume, the recoverable heat, the recoverable power, or simply the net profit. This paper critically reviews past efforts at geothermal definition, including a comparison with key reporting documents from the oil and gas sector and the mining industry. A recent code shows that the current methodologies of calculating geothermal resources and reserves are imprecise. In particular, it shows that different geothermal occurrences should be classified and quantified differently, depending on their static thermal energy in place, recoverable thermal energy, or net transformed energy. This paper suggests a principles-based integrated approach, as opposed to one based on rules, where the value of each resource is assessed based on the nature of and planned use for that specific resource.

Item Type:Conference Proceedings
Additional Information:Proceedings [DGMK Meeting Report No. 2011-1] 2011, pages 269-282.
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Falcone, Professor Gioia
Authors: Falcone, G., De Witt, G., and Teodoriu, C.
College/School:College of Science and Engineering > School of Engineering > Systems Power and Energy
ISSN:1433-9013
ISBN:9783941721166

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