Wien Energie and OMV join forces to develop deep geothermal energy in the Vienna region
Joint Venture planned for the design and development of geothermal potential in the Vienna Basin as well as for the operational management of deep geothermal plants
Wien Energie and OMV are pooling their expertise and planning to jointly tap, develop and utilize deep geothermal energy in the Greater Vienna area. For this purpose, the two companies are forming a joint venture. Wien Energie and OMV have already cooperated in the exploration, planning and measurement of the geothermal potential of the eastern Vienna Basin and have been able to gather comprehensive data and findings in this area, for example in the “GeoTief Wien” research project.
This cooperation will now be continued and intensified in the joint venture. Based on further exploration of the Vienna Basin and exploitation of the existing potential, deep geothermal plants are set to be developed, built, and operated.
Both companies bring extensive experience and technical skills in their areas of expertise. Wien Energie operates numerous heat generation plants and one of the largest district heating networks in Europe. By 2040, Wien Energie aims to make district heating generation completely carbon-neutral. Geothermal energy plays a decisive role in this. In cooperation with partners such as OMV, Wien Energie has been researching the potential in the Vienna region for many years and plans to build the first deep geothermal plant in Aspern as soon as 2026. As a globally active group, OMV brings decades of experience in the fields of geology and geophysics as well as drilling and production technology. With more than 60 years of exploration and production experience in the Weinviertel region, OMV has unique knowledge of the existing geological formations, which will benefit the joint venture. The use of deep geothermal energy is a stated goal of OMV’s Strategy 2030 to provide low-CO2 forms of energy in the future.
The formation of the joint venture is still subject to the necessary regulatory approvals.
Background Information
About Wien Energie
Wien Energie is Austria's largest regional energy provider. The company is a reliable supplier of energy to around two million people and 230,000 commercial and industrial facilities. Electricity and heat are produced from cogeneration, waste recycling and renewable energy such as solar, wind and hydropower as well as biomass. Wien Energie is massively expanding the share of renewable energy sources and making an active contribution to the path to climate neutrality in 2040. Information about the company can be found online at www.wienenergie.at
OMV Aktiengesellschaft
With Group sales revenues of EUR 62 bn and a workforce of around 22,300 employees in 2022, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Fuels & Feedstock business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 1,800 filling stations in ten European countries. In the Energy segment, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2022 amounted to 392 kboe/d. Its activities also include the Low Carbon Business as well as the entire gas business.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.
Contact
Alexander Hoor
Wien Energie Spokesperson
Telephone: 0664 884 801 81
E-mail: alexander.hoor@wienenergie.at
OMV Public Relations
Telephone: +43 (1) 40440-21357
E-Mail: public.relations@omv.com