Outotec to deliver oil shale technology to Estonia
Outotec In course of the development, large-scale test work was conducted primarily at Outotec's research center in Frankfurt, Germany.Outotec has reached an agreement with Eesti Energia for the design, delivery and construction of a new oil shale processing plant to be built in Narva, Estonia. The contract is valued at approximately EUR 110 million. Outotec has already made basic engineering for the same plant, which is scheduled for commissioning in early 2012.
Outotec and Eesti Energia have developed a solution, which greatly improves the existing solid heat carrier process for the extraction of oil from oil shale and other hydrocarbon materials. The new sustainable process, called Enefit, utilizes the latest fluidized bed technology.
The plant will process over 2.2 million tonnes of oil shale annually, resulting in roughly 290,000 tonnes of oil. The spent oil shale from the pyrolysis will be combusted in a circulating fluidized bed reactor. The combustion energy is utilized to dry and heat up the raw oil shale and to produce steam for electrical energy generation.
- The new sustainable technology enhances energy efficiency and ensures compliance with the European Union's environmental regulations, stated Outotec's CEO Tapani Järvinen.
Outotec and Eesti Energia have also entered into a joint venture for the holding of intellectual property rights and the commercialization of Enefit technology. Eesti Energia has a 60 percent stake in the new company with Outotec owning the remaining 40 percent.
- The world's recoverable oil shale resources are many times greater than those of conventional oil reserves, with large oil shale deposits to be found in the US, Brazil, China, Jordan, Russia and Estonia. We believe that our joint company will generate many business opportunities, stated Mr. Järvinen.
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