| Title | Classification of the Geothermal Resources and Reserves of HS Orka, SW-Iceland |
|---|---|
| Authors | Hjartarson, Arnar; Arnaldsson, Andri |
| Year | 2010 |
| Conference | Geothermal Resources Council Transactions |
| Keywords | Reporting codes; Classification; Assessment; Reykjanes; Svartsengi; Eldvorp; Krysuvik; HS Orka |
| Abstract | HS Orka is the largest privately held geothermal company in Iceland. HS Orka is developing four high temperature geothermal fields located on the Reykjanes peninsula SW-Iceland, named Reykjanes, Svartsengi, Eldvorp and Krysuvik, and operating two power plants at Reykjanes (100 MWe) and Svartsengi (75 MWe). Expansions are planned that will increase HS Orka’s geothermal power production from the current output of 175 MWe by an additional 230 MWe, thus bringing total production capacity to 405 MWe by 2015. In 2009, Magma Energy Corp. acquired 43% stake in HS Orka. Mannvit Engineering prepared an independent technical report on the resources and properties of HS Orka on behalf of Magma as a part of Magma’s due diligence exercise. In the independent technical report the geothermal resources and reserves of HS Orka were classified according to the Australian Geothermal Reporting code (2008). The results indicate that HS Orka has sufficient producing reserves and early stage development resources within its current operational and exploration portfolio in order to support its expansion plans of adding an additional 230 MWe to its current operational output of 175 MWe. The geothermal fields of HS Orka contain 175 MWe Proven Reserves and additional Indicated and Inferred Resources of 130 MWe and 500 MWe, respectively. This paper discusses the results of the classifications according to the Australian Geothermal Reporting Code and the methods used to assess the geothermal resources and reserves of HS Orka. |