Improving Sustainability of Oil Industry via Integration with Geothermal Energy: Analysis of Strategies

In this research, we reviewed the types of geothermal and oil wells as well as their drilling methods. The existing research background has yielded positive results toward increasing sustainability in line with use of abandoned oil wells to utilize geothermal energy. Also, with an emphasis on Iran’s fourth and fifth development plans for sustainability and stressing this issue in the oil industry, we conducted the “SWOT” analysis in this regard. This analysis clarifies four categories of Strengths, Weaknesses, Opportunities, and Threats, also includes a variety of strategies that can be applied in Iran’s oil industry by means of these categories, including the SO strategy, whereby the increase in the use of new energy resources as renewables will lead to increases the positive social attention towards Iran’s oil industry. Also, we conducted the WO strategy in which, investing in research and development can optimize the conversion of abandoned oil wells for geothermal energy production, reducing the high conversion costs and increasing the potential capacity of geothermal energy production. In addition, ST strategy can be functional where increasing attractivity of the oil industry due to sustainable development among other countries can attract foreign capital. Finally, theWTstrategy that a small number of companies that can be linked to cooperate with each other can reduce the risk of the threat of disagreement between managers and organization heads.