A Different Approach to Evaluate Techno- Commercial Feasibility by Revamping Existing Wells for Exploration of Geothermal Energy

Abstract In the majority of nations, geothermal energy is a clean, widely available energy source that is growing more reliable along with the conventional energy sources. To make geothermal energy accessible everywhere in the world, however, several technological and business obstacles still need to be overcome. One of the technical challenges and a major contributor to the expense of geothermal prospect development is execution of geothermal drilling and related operational challenges. Some possible ways to make geothermal projects techno-commercially viable and prolong their overall economic life include converting hydrocarbon-depleted wells or water-bearing wells that have been suspended or abandoned into candidate for the geothermal wells. This Paper outlines the necessary research and development for advancing this innovative strategy, considering operational and economic challenges. After identifying the wells in oil fields, preparing them for heat extraction by carrying out all necessary and required operational changes, and applying the economically modeled emerging geothermal technologies for converting extracted heat into electricity and accordingly significant financial savings can be shown. The economic analysis of utilizing traditional geothermal wells versus repurposing old wells for geothermal energy production in geothermal projects is presented in this study. Additionally, by classifying historical wells and prospective future uses based on enthalpy classification. In this Paper, a comprehensive literature review about geothermal energy is described in order to conduct an economic analysis of the geothermal energy project. Novel/Additive Information: This paper shows that it is a technique to propose potential cost-effective solutions to boost heat extraction for generation of geothermal energy.