Reservoir Engineering Analysis of Northwest Sabalan and Updated Reserve Estimates

A resource model of the Northwest Sabalan has been developed, which defines a Measured Geothermal Resource on the basis of an updated Magnetotelluric (MT) geophysical survey and stable temperature distribution estimated from downhole measurements from existing and newly‐drilled wells in NW Sabalan Geothermal resource area. The resource potential of the NW Sabalan area has been estimated using the Monte Carlo “stored heat” approach, where probability distributions for some of the resource parameters are defined. The geothermal reserve estimate based on Monte Carlo simulation for the NW Sabalan geothermal resource area amount to: • A proven plus probable or most likely geothermal reserve of 290 MWe at a P50 level of certainty. • A proven resource or minimum geothermal reserve of 140 MWe at a P10 level of certainty. • A proven plus probable plus possible or maximum geothermal reserve of 473 MWe at a P90 level of certainty.