Mannvit Engineering providing key resource assessments for HS Orka deal
Alexander Richter
20 Ara 2009
Mannvit Engineering, an Iceland based engineering firm, prepared an independent report on the geothermal plants and properties of HS Orka in support of Magma Energy’s technical due diligence assessment.
According to a recent release by Mannvit Engineering, the company prepared an independent report on the geothermal plants and properties of HS Orka in support of Magma’s technical due diligence assessment which was concurrent with its objective of acquiring an ownership stake in HS Orka.
Classification and assessment of HS Orka’s geothermal resources and reserves was an important part of the technical due diligence and an authoritative and objective assessment was required. The resource classifications and assessments of HS Orka’s geothermal resources required review and interpretation of substantial geothermal data produced over more than 30 years of continuous geothermal exploration and production. Extensive numerical simulation effort was an important part of the resource assessment work. Based on its extensive experience in geothermal project development, Mannvit Engineering was requested to prepare this technical report on the geothermal power plants and properties of HS Orka.
The report was prepared in accordance with the Code for Geothermal Resources and Reserves Reporting (the “Code”), 1st Edition: 2008, published by the Australian Geothermal Energy Association. In the report, four of HS Orka’s geothermal properties were determined to have a Proven Reserves totaling 175 MW, Indicated Resources totaling 140 MW and an Inferred Resources of 500 MW. The report was prepared by Mannvit’s geothermal specialists, Arnar Hjartarson and Dr. Johann Gardar Einarsson, who are responsible for its content and are “Competent Persons” according to the Code. For the technical report, Mannvit Engineering received important support and assistance from Vatnaskil Consulting Engineers.”
Source: Earth Times
