The Iceland Deep Drilling Project (IDDP) is a geothermal project established in 2000 by a consortium of the National Energy Authority of Iceland (Orkustofnun)(OS) and four of Iceland's leading energy companies: Hitaveita Sudurnesja (HS), Landsvirkjun, Orkuveita Reykjavíkur and Mannvit Engineering. The consortium is referred to as "Deep Vision".
The aim is to improve the economics of geothermal energy production. The strategy is to look at the usefulness of supercritical hydrothermal fluids as an economic energy source. This necessitates drilling to depths of greater than 4,000 metres (13,000 ft) in order to tap the temperatures of more than 400 °C (750 °F). The drilling is at a rifted plate margin on the mid-oceanic ridge. Producing steam from a well in a reservoir hotter than 450 °C (840 °F) — at a proposed rate of around 0.67 cubic metres per second (24 cu ft/s) should be sufficient to generate around 45 MW. If this is correct, then the project could be a major step towards developing high-temperature geothermal resources.
"Deep Vision" recognized at its inception that much research would be needed regarding the poorly understood supercritical environment and as such sought to promote inclusion of the wider scientific community.
Funding has come from the members of the consortium, the International Continental Scientific Drilling Program and the US National Science Foundation.
This project has also been used for purposes such as university research. Researchers from UC Davis, UC Riverside, Stanford University, and the University of Oregon have taken the opportunity to collaborate with each other and the IDDP. They have aimed their investigation to gain information about extracting energy from hot rocks on land. To do this, they have been gathering important information from the borehole they sunk where seawater circulates through deep, hot rock. This should give important new clues about black smokers, hydrothermal vents that spew minerals and superheated water deep below the ocean. These support unique microorganism communities living within them.