en.Wedoany.com Reported - New Zealand's Cabinet has approved the release of the remaining NZ$55 million from the Regional Infrastructure Fund (RIF) for pre-drilling work and drilling of the country's first ultra-high temperature geothermal exploration well. This funding comes from the initially reserved NZ$60 million in the fund.

The planned drilling is part of the GeoShot NZ project, which aims to access ultra-high temperature geothermal fields located at depths of approximately 4 to 5 kilometers. The energy from ultra-high temperature geothermal systems is expected to be about three times that of conventional geothermal systems, but also requires addressing challenges posed by extreme temperatures, pressures, and fluid properties. This latest funding milestone was announced by Regional Development and Resources Minister Shane Jones.

The first phase of the project, funded by the initially allocated NZ$5 million, has been completed. This phase included detailed well design for the first of three planned wells and an assessment of specialized material solutions for wellbore construction. The Ministry of Business, Innovation and Employment will deliver the project in partnership with joint venture partners Mercury NZ and Tauhara North No.2 Trust. The Rotokawa geothermal field has been selected as the site for the first well, and Todd Energy has been chosen as the preferred drilling contractor.

Mr. Jones stated that the government must take a leadership role in energy security, and from a long-term security perspective, this project is a critical step forward. The project is demonstrating what is possible and building national and regional expertise, which is foundational work for a future of unlimited, clean, and affordable energy.

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