OMV Petrom announces a first geothermal pilot project in Bulgaria

In its Strategy 2030, OMV, the international integrated oil, gas and chemicals company headquartered in Vienna, has set itself the goal of expanding its low carbon business and thereby its range of low carbon energy. In the geothermal sector, OMV sees its strength in its extensive expertise along with experience above and below ground, its existing reservoirs and infrastructure, and the strong market growth in Europe. OMV’s energy production from geothermal energy is expected to grow to up to 9 TWh by 2030.

The low carbon business plays an essential role in OMV’s Strategy 2030, especially geothermal energy. Here, we are using existing know-how to drive the energy transition and pave the way for a more sustainable life

Alfred Stern, OMV Chairman and CEO

On the exploration and production side, we are working on carbon capture and storage projects(CCS) we are doing an analysis to see where this can be done, at country level. We already have a geothermal energy pilot project. We are looking at the western part of Romania where there are good conditions in this sense we are in the planning phase. We are always looking for opportunities in the Black Sea but now the most logical choice is Bulgaria, where we have planned activities in 2023-2024

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