Oil & gas and geothermal energy sectors both require skills, data, technology and supply chain elements that show a significant overlap, indicating that these skills are indeed transferable between sectors.
Considering the large scale innovations taking place in the geothermal energy sector, it has been observed that techniques such as subsurface evaluation, modelling, drilling and surface operations that are involved in the development of new geothermal projects, are very similar processes to those used in many upstream oil and gas projects.
This means that the expertise offered by oil & gas professionals as well as the resources from the industry, can be used in the development of next-generation geothermal technologies. One notable example as mentioned in a report by the International Energy Agency (IEA), is the reliance of enhanced geothermal systems (EGSs) on well stimulation, including hydraulic fracturing and directional drilling techniques that were refined for shale gas and tight oil operations in the US.
The report concluded that findings obtained through the examination of investment components revealed that around two-thirds of every dollar invested in conventional geothermal operations has a significant overlap with the oil and gas industry. This further confirms the close relationship between the required investments and the expertise and skills involved in the two sectors.