CEGE - Central European Geothermal Energy Production Private Company Limited by Share was founded in 2008. The owners are (with 50-50% share) MOL Nyrt. and the Australian Green Rock Energy International Ltd. Its mission is to become a market leader in Central Eastern Europe in utilising geothermal energy in electric power plants and for direct heat supply. For this purpose the company executes the research and complete geological investigation of earth's heat systems having medium (100-150°C) and high (>150°C) enthalpy, including the exploitation and marketing of energy resources that provide an economical and sustainable resource for generating electric energy and direct heat supply, originating in earth's heat. Upon the geothermal circumstances of the Pannon Basin the option to recover heat for power generation from very deep thermal water reservoirs of high temperature is preferred.
In compliance with our philosophy we keep in view the protection of the environment and the long term sustainability of geothermal systems. For this purpose we try to completely press back the geofluids that transmitted the heat of the earth into the tapped formation.
From a geological aspect our country is a well explored area with more than 8000 deep boreholes and a huge quantity of seismic and other geological data is available. In the domestic geothermal energy industry no significant practice of deep geological exploration has developed so far. Boreholes deeper than 2500 m were only drilled for hydrocarbon exploration purposes previously, and only a few boreholes deeper than 1500 meters were deepened for thermal water exploitation. At the same time a significant part of Hungary's thermal water potential lies in medium and very deep reservoirs.
The deep geothermal energy exploration activity of CEGE Zrt. aims to explore these reservoirs and to exploit the residing heat energy. As a professional investor the company develops geothermal energy projects through implementing these projects. For this purpose it utilises the professional competence of its mother companies e.g. the 70-year geological exploration experience of MOL Nyrt. and its legal predecessors.
It is an important national interest to increase the utilisation of the domestic geothermal energy potential. Therefore CEGE Zrt. already stated at its foundation that it is ready to co-operate with competent ministries, agencies, all governmental professional institutions, universities, and domestic and international professional organizations. A wide, cross-border co-operation was developed with the participation of CEGE Zrt. based on agreements and frequent professional meetings that could further the development of the geothermal energy industry.