ONEO operates oil and gas fields while applying digital drilling optimization and strict safety standards to maximize production and minimize surface impact. After the productive phase, it rapidly decommissions wells and repurposes the underground infrastructure for low‑carbon uses such as geothermal heat, solar, wind, hydrogen production and energy storage, partnering with municipalities and heat‑network operators to integrate these sites into local renewable energy systems.
Funding
$41.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Existing oil and gas extraction sites occupy valuable land and infrastructure, and their decommissioning is costly and environmentally challenging. At the same time, the transition to renewable energy requires new generation capacity and storage without expanding land use.
Solution
ONEO combines continued, high‑standard oil and gas production with a systematic program to repurpose and decommission wells for sustainable energy uses. By applying advanced digitalization, risk‑based drilling optimization, and strict safety and environmental standards, the company maximizes the value of existing reservoirs while minimizing surface impact. After the productive phase, ONEO conducts rapid, responsible well plug‑and‑abandonment and prepares the sites for low‑carbon applications such as geothermal heat extraction, photovoltaic or on‑shore wind installations, hydrogen production, and energy storage. The firm works closely with municipalities, heat‑network operators, and industrial off‑takers to integrate these retrofitted sites into local energy systems, thereby creating a closed‑loop “energy cycle” that leverages existing underground assets for renewable generation.
Target Audience
Primary customers are municipalities, regional heat‑network operators, and industrial energy off‑takers seeking to convert former oil‑ and gas‑sites into renewable energy or heating assets.
Features
- Digital drilling optimization and real‑time monitoring to increase oil‑ and gas‑production efficiency while reducing footprint
- Comprehensive risk‑management and quantitative geological assessments for safe deep‑well operations
- Established plug‑and‑abandonment program that restores wells within defined timelines, freeing sites for new uses
- Technical expertise in geothermal reservoir evaluation, including seismic, geological, and aquifer property analysis
- Design and execution of CO₂‑neutral processes for industrial clients, covering geothermal, hydrogen, solar, wind, and storage solutions
- Integrated stakeholder management covering permitting, community engagement, and coordination with local heat‑network operators
- Proven operational safety record with over 90 active deep‑well projects and strict health, safety, and environmental protocols