The rights to build the first oil plant outside of the country based on technology designed by state oil company Eesti Energia have been sold to an Israeli company.
Enefit Outotec Technology (EOT), a company of which Eesti Energia is the majority stakeholder, has signed a contract with Israeli company Rotem Energy Mineral Partnership (REM) to start designing the first oil plant based on Enefit technology.
Over the next three months, Estonian specialists will conduct a study and analysis for REM. This follows on from a previous contract which agreed Enefit technology would be used for creating a future plant.
Estonian experts are participating in all stages of the project, including design and engineering work, offering technical support and other services necessary for creating the oil plant.
Member of the management board of Eesti Energia Margus Vals said REM chose Enefit technology for creating their oil plant because it is known to be the most effective industrially proven oil shale refining technology in the world with the least impact on the environment.
Vals said: "The unique Enefit technology created by Estonian engineers allows us to effectively use all mined oil shale, and process into oil old car tyres and perspectively also plastic waste. It's this efficiency and the capability to support solving environmental problems through circular economy that makes Enefit technology attractive.
"One of Eesti Energia's business fields is the export of our unique expertise and oil shale technology to countries that wish to examine their oil shale reserves more closely and put them into use. Results achieved in the last year prove this choice to be correct."
Editor: Helen Wright