OMV, Energie Steiermark Announce Early-Stage Austrian Geothermal Project
Austrian companies OMV AG and Energie Steiermark AG unveiled Wednesday a joint project to enable up to 670 gigawatt hours a year of heating capacity in the southeastern state of Styria.
The collaboration builds on a seismic survey conducted this year along about 900 kilometers (559.23 miles), whose results are being evaluated to inform the next phase of the Tiefenkraft project, the partners said in a joint statement.
They aim to start supplying heat from the project as early as 2030. More capacity would be enabled through 2037, and the partners expect to produce the equivalent of district heating for around 50 percent of the greater Graz area by then.
"The next major step is a planned exploration well, 'Petersdorf 2,' in St. Marein near Graz, with drilling expected to begin in the fourth quarter of 2026", the companies said.
"Preparatory work is set to begin in September 2026, with drilling currently scheduled to begin by the end of the year, subject to permitting and the completion of the drilling site construction. The drilling and subsequent testing phase are expected to take around three to four months and will provide further insights into the geothermal potential and geological conditions.
"If the results are positive, the next investment decision will cover the development of a first geothermal doublet - comprising one production and one injection well - along with comprehensive testing.
"In parallel, two possible additional wells are planned to assess the feasibility of an Aquifer Thermal Energy Storage system, enabling surplus heat to be stored underground and used seasonally.
"During this period, planning and groundwork for a pipeline connection to Graz will also advance".
Martin Graf and Werner Ressi, members of Energie Steiermark's management board, said, "This project represents the largest single investment in the history of Energie Steiermark and combines the expertise of two strong partners across the entire value chain".
"Deep geothermal energy is a key building block of the heat transition and will enable a significant share of Graz's district heating to be supplied in a climate-friendly and regional way in the future", they added.
OMV owns a 75 percent stake in the project. Energie Steiermark holds 25 percent.
In 2024 OMV’s geothermal joint venture with Wien Energie GmbH began drilling for a heat plant with a capacity of about 20 megawatts in Vienna. That would be enough to serve 20,000 households in the capital according to the partners.
Commissioning is planned for 2028. Investment is estimated to be EUR 90 million ($102.65 million), part of which would be shouldered by the Ministry of Climate Protection.
The joint venture, called deeep, was announced November 2023 with a plan to build 7 more deep geothermal plants in the districts of Donaustadt and Simmering. "The timetable for implementation and the output of the plants will depend on the learnings from the pilot plant in Aspern", the companies said at the time.
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