As announced in China, Chinese EPC contractor Landocean Energy Services Co. Ltd. has signed an EPC contract for the Pohang enhanced geothermal systems power project in South Korea.
Valued at $31.9 million the contract is with Pohang Geothermal Power, a subsidiary of NexGeo.
In October 2013, the first well drilling for the Korean EGS pilot plant project reached 4,127 m in the Pohang area. Although the original target depth of drilling was between 4.5 km and 5 km, at which subsurface temperature was expected to be 180 °C, the first well had to be finished at the depth of 4,127 m due to technical and logistic problems encountered in drilling. Subsequent surveys and engineering works such as wire line logging and hydraulic stimulation were scheduled to be performed in 2014.
