The UK Committee on Climate Change have stated that the decarbonization of heating in the UK could deliver the major reduction in emissions needed to meet the 2050 target.
One potential opportunity is that of repurposing onshore hydrocarbon wells for the production and storage of geothermal energy. With existing energy infrastructure already in place, low cost and sustainable heat can be harnessed from hydrocarbon wells.
More generally, Angus are considering using their geological, drilling and engineering skills to develop one other major geothermal energy project on another brownfield site. The technology is a close fit to our oil and gas experience and offers the possibility of safe, sustainable, base load, electricity generation. This exciting new technology is about to become mainstream and Angus sees a role in promoting this.
We are already in discussions with academic researchers and have engaged industry specialists in the geothermal energy field. One conceptual study has validated the possibility of a pilot geothermal initiative at our Saltfleetby site within the southern extent of the field. This raises the possibility of utilising Saltfleetby as a geothermal energy producer with the potential of generating up to 2MW of heat. This energy could then be used to power the site or support enhanced covered cash crop agriculture, as well as having the potential to provide an electricity surplus for other high impact community projects.