
JAPAN — INPEX Corporation has announced plans to commence exploratory drilling for geothermal energy development in the Okuhida Onsengo district of Takayama City, Gifu Prefecture in Japan.
The company has been conducting extensive surveys in the area since 2012, with surface and geophysical surveys, as well as previous drilling operations, indicating the presence of geothermal resources.
The project, set to begin at the end of 2024, aims to confirm the viability of these resources for potential development.
If sufficient geothermal resources are discovered, the project is expected to contribute significantly to the expansion of INPEX’s geothermal business, aligning with the company’s net zero ambitions.
This initiative is part of INPEX’s broader strategy to enhance its renewable energy portfolio, which is one of the five net zero businesses outlined in the company’s “INPEX Vision @2022” announced in February 2022.
INPEX plans to leverage technologies cultivated through its oil and natural gas development experience to accelerate its geothermal power generation business.
The company views this project as an opportunity to proactively engage in energy landscape development, contributing to the realisation of a net zero carbon society while maintaining its commitment to a stable energy supply.
The project, wholly owned by INPEX, represents a significant step in Japan’s efforts to diversify its energy sources and reduce carbon emissions.
As the country seeks to increase its renewable energy capacity, geothermal energy could play a crucial role in achieving these goals, given Japan’s abundant volcanic resources.
This development comes as part of a broader trend of energy companies expanding into renewable sectors.
INPEX has also been active in other renewable energy projects, including investments in wind, solar, and battery storage in Australia, demonstrating its commitment to diversifying its energy portfolio.