Sinopec (China Petroleum & Chemical Corp.) completed the drilling of Fushen-1 Well, China’s deepest geothermal exploration well located in Hainan, South China.
Fushen-1, started in August 2023, has a depth of 5,200 meters.
Sinopec said the project has allowed adoption of technologies including the combination of dual-drive drilling and high-pressure injection to reach the temperature limit of hot dry rock under national energy industry standards.
Hot dry rock geothermal resources within the range of 3 km to 10 km underground China, is equivalent to 856 trillion tons of standard coal, according to China’s geological surveys.
Two percent of extracted geothermal heat can reach 2,993 times the energy consumption of China in 2023.
Sinopec plans to carry out extensive research and field tests at Fushen-1 to establish the first platform integrating research, education and experimentation of deep geothermal in South China to help achieve the dual-carbon goal.
Recommended Reading
CGG to Change Name to Viridien
2024-05-17 - The company’s new ticker symbol will be “VIRI” and listed on Euronext Paris, effective May 21.
Sector’s Appetite for Capital Remains Amid Consolidation Frenzy, Panelists Say
2024-05-17 - There’s still an appetite for capital in the oil and gas sector—companies just need to think creatively to find it, a number of panelists said during SUPER DUG in Fort Worth, Texas.
SilverBow Resets Shareholder Meeting After $2.1B Crescent Deal
2024-05-16 - SilverBow Resources said it will adjourn its May 21 shareholders’ meeting until May 29 following Crescent Energy’s agreement to buy the Eagle Ford operator.
Blue Racer Midstream Prices Senior Notes Offering
2024-05-15 - Net proceeds from the sale of senior notes will be used to pay off debt and other general corporate purposes.
Petrobras CEO Prates to Step Down
2024-05-15 - Brazil’s President Luiz Inácio Lula da Silva has requested that Petrobras CEO Jean Paul Prates resign following a dispute over dividend payments.