Geothermal energy – understanding the business case
18 November 2021
CeraPhi Energy has developed technology to repurpose oil and gas wells or failed geothermal wells to produce clean energy. The technology is applied under an energy development agreement on a licensing basis. Its founders coming from a background in the oil and gas industry.
CeraPhi uses its proprietary technology together with proprietary fluids in its closed loop system, whereby the fluids are circulated down the well from the surface through a custom designed close loop system, utilising only the bottom hole temperature from the existing well, the heat is transferred to a secondary system on the surface using a binary cycle principle.
The CeraPhi system eliminates the need to seek subsurface hydrothermal systems as in conventional geothermal and removes the need to produce these fluids which in turn removes the risk of environmental contamination and the controversial use of subsurface water which is a natural resource itself. Not needing subsurface fluids removes the need for hydrofracturing or hydraulic stimulation which has been associated with seismic activities under similar condition as fracking, this process is eliminated using CeraPhi system.
The CeraPhi well technology also enables the production of clean thermal energy production at the same time as hydrocarbon production, meaning this can provide a suitable medium to support the decarbonisation of site operations and or addition revenue stream and a clean energy transition which can be built into an exploration development plan in advance.