Eesti on the Search for Oil Shale

Eesti Energia is looking for another large oil shale development project.

Company representative Sandor Liive said that the company is seeking a significant project in addition to its present activities in Jordan.

Although a specific project has not been selected yet, there are candidates said Liive.

Last year, Eesti received rights from Jordanian government for over 2 billion tonnes of oil shale.  The project has reached the industrial stage, environmental effects evaluation, geological research, preparations for building the plant are under way. (Read More about Eesti in Jordan HERE)

Liive said that Eesti never aimed to develop the projects fully, but develop them in the initial stage, offer knowledge and technologies, include investors and later sell the business with profit.

Last Friday, the state-owned company announced record full-year net profits.

“It was a record year. We generated and sold power in an amount that broke a record from 1992 and we did so with around three times fewer employees. We also produced record quantity of liquid fuel from shale oil in the last 30 years and our oil shale output was the highest since 1992,” said the company’s finance director Margus Kaasik.

Source: www.baltic-course.com