Maibarara Drills New Geothermal Well in Batangas Philippines
A Philippine based energy developer, Maibarara Geothermal Inc., started drilling a new geothermal well last Thursday August 30, 2012 on its geothermal energy project in Santo. Tomas, Batangas in the Philippines.
Here's my previous first and second post about this project.
New well to re-inject condensate fluid
The purpose of this well according to Petroenergy Resources Corp. or PERC, Maibarara’s majority stakeholder, is to re-inject condensate fluids from the 20-megawatt geothermal project into a reservoir below ground to recharge the system also located in Santo Tomas.
The re-injection of condensate fluid will help increase the system efficiency which will result to cost efficient energy production.
Geothermal energy system, a renewable energy form, use in most situations the underground steam fields as a source of heat to produce energy – or electricity that we need every day.
Geothermal project expected to be operational in 2013
This news was announced by Maibarara from its Pasig office after it had finished last August the third production well that will also supply steam to the plant. Its Santo Tomas geothermal plant is expected to begin its operation next year.
This projected was started after Maibarara got a 2.4 billion-peso or roughly $57 million loan last September from Bank of the Philippine Islands and Rizal Commercial Banking Corporation. The loan according to the company will fund the project’s steam field pipeline, power plant and transmission equipment.
Maibarara Geothermal Inc. is a joint project of Trans-Asia Oil & Energy Development Corporation and the government- owned renewable energy unit Philippine National Oil Company.
