GEOTHERMAL energy industry pioneer Energy Development Corp. (EDC) of the Lopez group is set to begin its first major international drilling in Chile in October.
EDC Vice President for Business Development International Arman Lapus said drilling for the company’s Mariposa geothermal power project in Chile will take six months.
“We’re hoping to drill at least two to three wells. The intention here is to prove the resources,” he said.
In preparation, the EDC has begun drilling the top holes or the first 50 meters of the wells. The installation of the anchor casings in the top hole sections of the well will reduce the time it will take to drill the full 3-kilometer wells, which is critical as EDC only has five months of the Chilean summer starting October this year.
EDC has set aside P3.8 billion in capital expenditure for its Mariposa project. EDC also continues to pursue entry strategies in Indonesia. It has been granted preliminary survey rights for the Graho Nyabu block in Sumatra, which holds an estimated 150-megawatt resource.
The company awaits the Ministry of Energy and Mineral Resource to tender out the Graho Nyabu concession in Sumatra. EDC submitted to the ministry the results of its preliminary survey in 2013. This will be used as the basis for the tender.
“For Peru, we basically narrowed the really good prospects. Four to five concessions,” said Lapus, adding that the company continues to scout for more opportunities outside Chile and Peru.